SEC Bans Naked Short Selling on 799 Companies
The SEC has implemented plans to temporarily ban naked short selling on 799 financial companies in an attempt to bring more order to the markets.
The U.S. Securities and Exchange Commission took what it called “emergency action” Friday and temporarily banned investors from short-selling 799 financial companies.
The temporary ban, aimed at helping restore falling stock prices that have shattered confidence in the financial markets, takes effect immediately.
The ban will last until October 2nd but could be extended if deemed necessary but not to exceed 30 days in total.
SEC bans short-selling [CNN]
List of 799 companies [SEC.gov]