NEWS
SEC Clears New Restrictions on Short Selling
Washington, February 24 — Reuters correspondent Rachelle Younglai reports (SEC reins in short sellers with new restrictions”) that the Securities and Exchange Commission adopted a new rule to restrict short selling more than a year after the financial crisis provoked cries to rein in investors who bet on a stock’s decline.
“The Securities and Exchange Commission voted 3-2 on Wednesday for a rule designed in part to boost investor confidence by braking the precipitous fall of a stock.
The SEC did not exempt option and equity market makers from the curb but said hedging could still occur.”
Details of the new rule available at: http://www.sec.gov/news/press/2010/2010-26.htm
