The Alberta Securities Commission has extended an order temporarily prohibiting short sales of certain financial sector securities listed on the Toronto Stock Exchange. The extended order prohibits, with certain exceptions, short selling of common shares of certain financial sector issuers until 11:59 p.m., Oct. 8.On Sept. 18, the United States Securities and Exchange Commission temporarily […]
Ban to expire next week, at the same time the SEC’s ban also expires
It remains to be seen whether the CSA or other jurisdictions follow suit
Move follows similar actions taken by the U.S. Securities and Exchange Commission and Britain’s Financial Services Authority
Action taken to protect investors and markets
The Managed Funds Association (MFA), the voice of the global alternative investment industry, is criticizing regulators’ efforts to curb short selling as a way to shore up financial markets.Richard Baker, president and CEO of the MFA, stated “MFA is concerned about the instability that is shaking the nation’s financial system. This crisis is the result […]
FSA banks shorting financial stocks
Rules now apply to securities of all public companies
Temporary order continues prohibition covering 19 financial stocks until Aug. 12
Emergency order prevents “naked: short selling in the securities of Fannie Mae and Freddie Mac