* The SEC has banned short-selling of financial companies.
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
Showing posts with label SEC. Show all posts
Showing posts with label SEC. Show all posts
Saturday, 20 September 2008
Thursday, 18 September 2008
SEC Bans Financial Firm Short Selling
A temporary ban on short-selling of 799 US financial firms has been imposed by The Securities and Exchange Commission, in a move that followed that by the UK's Financial Services Authority. Further companies might be bought into the net.
The S.E.C. said the “temporary emergency action” would “protect the integrity and quality of the securities market and strengthen investor confidence.”
“The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets,” the S.E.C.’s chairman, Christopher Cox, said. He continued “The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets.”
A similar ban in London was seen as a catalyst for the massive 8.84% surge in the FTSE 100. However, it should be remembered that the US has had previous bans on short-sellling plus a long-standing rule that says short-selling take place on an uptick.
The S.E.C. said the “temporary emergency action” would “protect the integrity and quality of the securities market and strengthen investor confidence.”
“The commission is committed to using every weapon in its arsenal to combat market manipulation that threatens investors and capital markets,” the S.E.C.’s chairman, Christopher Cox, said. He continued “The emergency order temporarily banning short selling of financial stocks will restore equilibrium to markets.”
A similar ban in London was seen as a catalyst for the massive 8.84% surge in the FTSE 100. However, it should be remembered that the US has had previous bans on short-sellling plus a long-standing rule that says short-selling take place on an uptick.
Trading Today
* The SEC has banned short-selling of financial companies.
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
Trading Today
* The SEC has banned short-selling of financial companies.
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
* The US Treasury has guaranteed money markets up to $50bn
* The Federal Reserve will buy mortgage agency notes and lend money to ease pressure on the funds.
* The FTSE surged 8.84% with the largest daily rise since 1987
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