GREY:BKMNF - Post by User
Post by
whosdaton Mar 05, 2012 4:08pm
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Post# 19628997
More good news for investors!
More good news for investors! Come on Barker start releasing some results.
https://www.bnn.ca/News/2012/3/5/Regulato....egulations.aspx
Regulator ends short-selling 'tick test' regulations
BNN.ca staff
12:52 PM, E.T. | March 5, 2012
The Investment Industry Regulatory Organization of Canada (IIROC) announced it's eliminating its "tick test" restrictions on short-selling Canadian equities and will publishing a bi-monthly report on short-selling activity.
The "tick test" ensured that investors could only short a stock after its price had moved higher.
IIROC determined that the tick test had no appreciable impact on price movement and the agency could use real-time alerts to prevent "abusive short selling practices."
The agency also said it is implementing policies to end the practice of naked short-selling, where an investor shorts a security that he doesn't actually own.
"Together with enhancements to transparency and monitoring, these reforms contribute to fair and efficient regulation that supports both investor protection and competitive capital markets," said Susan Wolburgh Jenah, IIROC's President and Chief Executive Officer, said in a statement.
Since 2007 IIROC had no "tick test" restrictions on Canadian and U.S. inter-listed equities, mirroring a move by U.S. regulators to end the policy.
"These are positive moves by IIROC that should enhance the efficiency and transparency of our marketplace," BNN's Market commentator Andrew McCreath said.