Law Firm Planner - Legal News - SEC Proposes Naked Short Selling Anti-Fraud Rule
Law Firm News
Today's Date: Bookmark This Website
SEC Proposes Naked Short Selling Anti-Fraud Rule
Topics | 2008/03/26 09:15
On March 17, 2008 the Securities and Exchange Commission (SEC or Commission)
issued a release proposing a new anti-fraud rule under the Securities Exchange Act of
1934, as amended (Exchange Act), which addresses “naked” short selling, which the
SEC has generally defined as “selling short without having stock available for delivery
and intentionally failing to deliver stock within the standard three-day settlement
cycle.”

Specifically, proposed Rule 10b-21 is intended to target: (i) short sellers who
deceive certain persons, such as their broker-dealers, about the source of borrowable
shares, to circumvent the Regulation SHO “locate” requirement; and (ii) long sellers
who misrepresent to their broker-dealers that they own the shares being sold, also to
circumvent Regulation SHO, as well as certain other rules.

The deadline for submitting comments on proposed Rule 10b-21 is May 20, 2008.


[PREV] [1] ..[1835][1836][1837][1838][1839][1840][1841][1842][1843].. [1972] [NEXT]
All
Law Firm News
Headline News
Law Center
Court Watch
Legal Interview
Topics
Lawyer News
Legal Focuses
Opinions
Marketing
Politics
Firm News
Maldives court delays reinst..
Inmate in landmark Supreme C..
GOP to take new congressiona..
Afghans submitted 1.17 milli..
Specialist prosecutor for Ko..
Beleaguered gunmaker Remingt..
Court: Idaho nuclear waste d..
Kushner firm seeks court cha..
Wisconsin Supreme Court prim..
Supreme Court blocks some re..
Court allows Pennsylvania to..
Greek court postpones decisi..
Prosecutor asks for prison t..
Court: Lawsuit alleging coer..
Samsung heir freed after app..


   Lawyer & Law Firm List
New York Adoption Lawyers
New York Foster Care Lawyers
Adoption Pre-Certification
www.lawrsm.com
New Rochelle Oil and Gas Industry Law Firm
www.kboattorneys.com
Canton Family Lawyer
Canton Divorce Lawyer
cantoncriminalattorney.com
 
 
© Law Firm Planner. All rights reserved. - Legal News and Articles on Recent US Legal Developments.

The content contained on the web site has been prepared by Law Firm Planner Media as a service to the internet community and is not intended to constitute legal advice or a substitute for consultation with a licensed legal professional in a particular case or circumstance. Legal Blog postings and hosted comments are available for general educational purposes only and should not be used to assess a specific legal situation. Law Firm Website Design by Best Lawyer Website Design- Attorney Web Design That Works