NEWS
May 29 (Reuters) – A patchwork of short-selling curbs looks set to continue despite doubts over their usefulness.
They were introduced in many countries last September to ease pressure on financial shares but the selling continued in many cases.
Earlier this week Belgium and Italy extended the curbs but the Netherlands allowed them to expire. [...]
By Rachelle Younglai. NEW YORK (Reuters), May 13, 2009 –The head of Canada’s main exchange said on Wednesday there was no evidence that short selling had exacerbated market volatility and warned against further curbs on investors who bet on a stock’s decline.
“In Canada we don’t really think there’s a short selling problem,” TMX
Group [...]
In prepared testimony for a hearing Thursday, May 7, before the House Financial Services Subcommittee on Capital Markets, Insurance, and Government Sponsored Enterprises, the Coalition of Private Investment Companies (CPIC) outlined a new oversight regime.
“I am a strong supporter of the SEC, its dedicated staff, and its mission,” said James Chanos, chairman of CPIC [...]
The Securities and Exchange Commission will held a roundtable on to discuss whether short sale price test restrictions or short sale circuit breakers should be adopted. The roundtable Webcast has been posted.
Agenda and Panelists Roundtable to Examine Short Sale Price Test and Circuit Breaker Restrictions
10:10 a.m. — Panel One: Market Changes and Investor Confidence; [...]
By Rachelle Younglai, Reuters, May 5, 2009
Financial professionals, academic experts and the U.S. broker-dealer watchdog agree the Securities and Exchange Commission should not reinstate its old uptick rule to regulate short selling but disagreed on what other measures would be effective.
At a day-long meeting on Tuesday, the SEC examined a handful of proposals to restrict [...]
“EDITORIAL: In Defense of Short Selling.”
April 30, 2009. The Washington Times – “The Securities and Exchange Commission is holding a round table next week to hash out how to regulate short-selling. The SEC would be wiser to let the market decide what stocks can be sold and when.
“Short-selling is a practice by which investors sell [...]
“Power to the Hedge Funds! Long Demonized, They May be the Model Firms of the Future.”
By Michael Hirsh. Newsweek. “The hedge-fund industry has shown remarkable resiliency in the face of the catastrophe, turning in a gain of 0.53 percent in the first quarter. (In addition, a lot of the worst performance occurred in September and October, [...]
“In Praise of Short Selling. Hong Kong Offers a Lesson to Other Financial Regulators.”
The Wall Street Journal Asia. April 20, 2009. “Hong Kong’s decision not to join other countries in banning short selling last year looked smart at the time. New research makes it look even smarter.
“According to a report by the territory’s Securities and [...]
“GETTING PERSONAL: Fund Providers Warily Eye Uptick Proposal.”
By Daisy Maxey. The Wall Street Journal. April 16, 2009. “NEW YORK (Dow Jones)–The return of a rule that limits short-selling, now being considered by the Securities and Exchange Commission, could constrain some mutual funds that short stocks or impact volatility in the broader markets where mutual funds [...]
“Cautious Optimism over SEC Move to Stem Short Selling”
By Anuj Bangahar. Financial Times. April 11, 2009. – “The Securities and Exchange Commission’s latest proposals for curbing short selling have been met with cautious optimism in spite of concerns about whether reintroducing a form of the so-called ‘uptick rule’ would have anything more than a psychological [...]
