Chamber Seeks Tougher Naked Short-Selling Rules

Law360, New York (September 14, 2007, 12:00 AM EDT) -- The U.S. Chamber of Commerce has called on federal securities regulators to take extra measures to crack down on improper naked short-selling practices.

The chamber, which represents more than 3 million businesses and organizations, sent a letter to the U.S. Securities and Exchange Commission on Thursday that said fraudulent naked short sales continue to pose significant problems for small and mid-sized firms and their shareholders.

While the chamber hailed the SEC for its efforts to rein in the improper selling, it recommended that more needed to...
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