April 6, 2009
SEC Feels Pressure to Limit Short Sales
Should the SEC reinstate the uptick rule or consider other ways to restrict short-selling? The New York Times says that some legislators are putting pressure on the regulator to do just that. NYTimes, Some Revile Plan to Limit Short-Selling.
Meanwhile, today SEC Chair Schapiro said, in a speech to the Council of Institutional Investors:
We are, however, from an enforcement and regulatory perspective, looking at practices that may be contrary to fair and orderly markets. Later this week, the Commission will be considering proposing new rules limiting short sales in a down market. This is an issue that has both strong supporters and detractors — and we will be very deliberative in our effort to determine what is in the best interest of investors.
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