New Rule On Short Selling Will Help Protect Market

Law360, New York (August 30, 2007, 12:00 AM EDT) -- The Securities and Exchange Commission (SEC) has adopted amendments to Regulation M (“Anti-manipulation Rules Concerning Securities Offerings”) that prohibit any person who sells short an equity security that is the subject of a public offering from purchasing the offered securities from an underwriter or broker or dealer participating in the offering.

* Background *

The SEC takes the position that pricing integrity is essential to the capital-raising process in a properly functioning market. The fundamental purpose of Regulation M (Reg M) is to protect the pricing...
To view the full article, register now.

UK Financial Services

UK Financial Services

Read Our Latest UK Financial Services Coverage

Financial Services Law360 UK provides breaking news and analysis on the financial sector. Coverage includes UK and European Union policy, enforcement, and litigation involving banks, asset management firms, and other financial services organizations.