SEC Staff Suggests Exceptions To Emergency Order

Law360, New York (July 18, 2008, 12:00 AM EDT) -- An emergency order issued by the U.S. Securities and Exchange Commission and slated to take effect Monday could reportedly be modified to exclude market makers in 19 stocks and their derivatives.

The order, which was issued late Tuesday, is designed to enhance investor protections against "naked" short selling in the securities of Fannie Mae, Freddie Mac and primary dealers at commercial and investment banks.

But the SEC staff has recommended exceptions to the order for market makers in the shares, Dow Jones News reported on Thursday....
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