SEC extends ban on short selling in financial stocks

ADVERTISEMENTS

Securities and Exchange Commission (SEC) extended an unprecedented ban against all sorts of short selling in 800 financial companies’ stocks. It would keep in place at least   until a decision comes out from the Congress on bailout plan on Friday.

As per the law the ban will end no later than October 17th. SEC banned short selling in financial stocks from September 18th to stop the free fall of the share prices and to shore up the confidence in the investors. The ban was to expire today.  The ban would end if the House of Congress accepts the modified bailout plan which was passed by the senate on Wednesday.

Be Sociable, Share!
ADVERTISEMENTS
Sathish Emmadi

Sathish Emmadi is a co-founder & editor at Lastbull.com. He is presently working in IT for one of the world’s top mutual fund companies. Handled multiple projects in BFSI (Banking,Financial Services and Insurance) domain. An Engineering Graduate from NITW.

Related posts:

  1. Fed plans for a new bail out/SEC bans short selling
  2. Bailout plan passed by the senate/Effect on Indian markets
  3. Indian Markets Next week August 18th 2008
  4. Stocks to Watch out for in this Bear Market – 1
  5. Stocks to watch out for in this bear market – 2

Leave a Comment

CAPTCHA Image
*