NEWS
American Bar Association: SEC Must Identify Facts, Data to Justify Short Selling Restraints
In a comment letter filed with the Securities and Exchange Commission, the American Bar Association’s Committee on Federal Securities Regulation stressed that it is “essential that [the Securities and Exchange Commission] identify the facts and data upon which its conclusions are based.” The letter summarizes court precedents defining the requirements regulatory agencies must meet to justify enactment of new regulations or modifications that deviate from current policies.
http://www.sec.gov/comments/s7-08-09/s70809-4021.pdf
