The SEC Attacks Short Selling

Law360, New York (September 23, 2008, 12:00 AM EDT) -- On Sep. 19, 2008, the SEC took regulatory and enforcement steps to combat what it describes as “abusive short selling “during this period of “market turmoil.“

These steps included issuing the following orders: a formal order of investigation into manipulative short selling; an emergency order prohibiting short selling securities of certain financial companies; an emergency order requiring the public disclosure of certain short sale positions; and an emergency order imposing a hard T+3 close out date for all short sales.

Each of these orders is currently...
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