TSXV:FCO.H - Post by User
Post by
good2004on Jul 27, 2009 4:18pm
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Post# 16169613
Curtail abusive "NAKING " short selling
Curtail abusive "NAKING " short selling
SAN FRANCSICO (MarketWatch) -- The Securities and Exchange Commission on Monday made permanent a rule designed to curtail abusive "naked" short selling. "The new rule, Rule 204, requires broker-dealers to promptly purchase or borrow securities to deliver on a short sale," the SEC said. A temporary rule meant to curtail the practice was set to expire on July 31. The SEC said it is also working together with several self-regulatory organizations to make short sale volume and transaction data available