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re: How to get short when shorting is illegal?
Posted on 9/19/08 at 10:34 am to Colonel Hapablap
Posted on 9/19/08 at 10:34 am to Colonel Hapablap
per schwab, their is a specific list of 799 financial stocks you are not allowed to short...maybe others are still fairplay and I imagine that SKF practiced the shorting of these stocks, hence the halting of trading for that ETF while other inverse ETFs are still fair game
quote:
Urgent Notification
SEC Bans Short selling on 799 Financial Stocks
The Securities and Exchange Commission, acting in concert with the U.K. Financial Services Authority (FSA), today took temporary emergency action to prohibit short selling in financial companies to protect the integrity and quality of the securities market and strengthen investor confidence. The action is immediately effective. All open orders to short any of these 799 stocks will be canceled. Please refer to www.sec.gov for in-depth details of the order.
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