Wednesday, July 30, 2008 7:18:55 AM
"SEC Extends Short Selling Curb Through August 12"
SEC Update
July 29:
Excerpts:
"U.S. securities regulators have extended through August 12 an emergency rule aimed at curbing abusive short selling in the stocks of 19 major financial firms, including mortgage giants Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) and Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz)."
"The emergency measure, that first took effect July 21 and will not be further extended, requires investors to borrow a stock before selling it short and to deliver the stock on the settlement date."
""The order is designed to protect legitimate short selling in these securities, but helps prevent illegitimate naked short selling and potential 'distort and short' manipulation," SEC Chairman Christopher Cox said in a statement."
"Cox told a congressional hearing last week that the agency would soon propose a rule extending the emergency short sale requirements to the entire market."
http://www.reuters.com/article/businessNews/idUSN2938592520080730?feedType=RSS&feedName=businessNews
Take a min and let Chairman Cox know what you think.
Questions and Feedback
https://tts.sec.gov/acts-ics/do/question
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
SEC Update
July 29:
Excerpts:
"U.S. securities regulators have extended through August 12 an emergency rule aimed at curbing abusive short selling in the stocks of 19 major financial firms, including mortgage giants Freddie Mac (FRE.N: Quote, Profile, Research, Stock Buzz) and Fannie Mae (FNM.N: Quote, Profile, Research, Stock Buzz)."
"The emergency measure, that first took effect July 21 and will not be further extended, requires investors to borrow a stock before selling it short and to deliver the stock on the settlement date."
""The order is designed to protect legitimate short selling in these securities, but helps prevent illegitimate naked short selling and potential 'distort and short' manipulation," SEC Chairman Christopher Cox said in a statement."
"Cox told a congressional hearing last week that the agency would soon propose a rule extending the emergency short sale requirements to the entire market."
http://www.reuters.com/article/businessNews/idUSN2938592520080730?feedType=RSS&feedName=businessNews
Take a min and let Chairman Cox know what you think.
Questions and Feedback
https://tts.sec.gov/acts-ics/do/question
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
Yorkville / Cornell Tracking Board #board-9964
"I can think of no more valuable commodity than information"
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