SEC bans short-selling to boost investor confidence
Güncelleme Tarihi:
HotNewsTurkey with wires
Oluşturulma Tarihi: Eylül 19, 2008 11:59
The Securities and Exchange Commission (SEC) has taken the dramatic step of temporarily banning the routine practice of betting against company stocks on Friday. (UPDATED)
Haberin Devamı
The move, announced early Friday on the agency’s Web site, may well be unprecedented and reflects regulators’ concern about the widening scope of the financial crisis as entreaties come from all quarters to stem a swarm of short-selling.
The commission said it was acting in concert with the U.K. Financial Services Authority in taking temporary emergency action to prohibit short selling in financial companies to protect the integrity of the securities market and boost investor confidence.
The United Kingdom's Financial Services Authority had imposed a temporary ban on short sales of financial stocks on Thursday.