SEC Approves New Short Sale Price Test
At an open meeting on February 24, 2010, the Securities and Exchange Commission adopted a new short sale price test by a 3-2 vote. Commissioners Casey and Paredes opposed the rule in forceful, articulate statements that the rule is not necessary based on any empirical analysis, is not properly formulated to address real problems in the market, and does not meet the goals of fostering investor confidence in the fairness of the markets.
This communication, which we believe may be of interest to our clients and friends of the firm, is for general information only. It is not a full analysis of the matters presented and should not be relied upon as legal advice. This may be considered attorney advertising in some jurisdictions. Please refer to the firm's privacy notice for further details.
Copy link to share post