SEC Planning Permanent Short-Selling Rule: Cox

Law360, New York (August 19, 2008, 12:00 AM EDT) -- The U.S. Securities and Exchange Commission is reportedly planning to propose a new rule designed to permanently limit the naked short selling of stock.

The agency will focus on marketwide solutions, SEC Chairman Christopher Cox told reporters on Tuesday. Though he declined to give specifics, he did say one possibility would be requiring investors to publicly disclose substantial short-sale positions, Reuters reported.

“Our proposal will be designed to ensure the smooth functioning of the markets,” Cox said, according to Reuters. “We support the equally important role...
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