SEC Vows To Expand Short-Selling Rules

Law360, New York (July 24, 2008, 12:00 AM EDT) -- At a hearing of the U.S. House of Representatives Financial Services Committee on Thursday, the head of the U.S. Securities and Exchange Commission reiterated his plan to expand and make permanent an emergency rule meant to stop abusive short-selling practices.

Commissioner Christopher Cox told committee members that the commission would soon propose new rules, expanding the scope of the emergency rule beyond the original 19 major financial firms to include the rest of the market.

"We have immediately pivoted to a broader rulemaking ... so we...
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