Banned shorting on majors financial stocks. Combine the lack of required consolidated market data, the removal of the uptick rule, the introduction of the SME designation, with the illegal practice known as “short and distort,” and many Canadian companies and Canadian-born innovations listed on Canada’s stock market could be doomed to On September 19, 2008, the Ontario Securities Commission (OSC) ordered a restriction on the short sale of 13 financial stocks.
These stocks included Canada’s Big Five banks: the Bank of Montreal, the Bank of Nova Scotia, CIBC, TD, and the Royal Bank.
It also included Canada’s largest insurance firms including Manulife Financial and Sun Life Financial.
This was done because the regulators wanted to prevent the banking system from collapse during the 2008 financial crisis and feared that rampant rumours spread by short sellers combined with the downward pressure of short sales would become a self-fulfilling prophecy.
The ban should be applied to junior miners or at least have an uptick rule back into effect if nothing is done many juniors will be destroyed by short and distort we have a prime example here on Axu. Relentless distortions of facts, attacks on posters who own shares. Misleading texts. it easy to see that theses unknowns posters have an hidden agenda do you're DD.