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SEC Proposes Tougher Naked Short-Selling Rules

Law360 (March 4, 2008, 12:00 AM EST) -- In a 3-0 vote, the U.S. Securities and Exchange Commission voted Tuesday to propose a new rule aimed at the illegal practice known as “naked” short selling.

The securities regulator voted to publish for public comment a new regulation designed to add teeth to earlier agency attempts to stop short-selling abuses.

“Today's proposal to craft a specifically tailored anti-fraud rule to the abusive practice of illegal naked short selling is an important next step in the battle to end behavior that is corrosive both to the...
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