Naked Short Selling

[Greg]

News:

WASHINGTON (MarketWatch) -- U.S. securities regulators issued new rules Wednesday
designed to protect investors against so-called "naked" short-selling, including
requiring short sellers to deliver securities by the close of business on the
settlement date and making clear that those lying about their ability or
intention to deliver on time are breaking the law. "These several actions today
make it crystal clear that the SEC has zero tolerance for abusive naked short
selling," said Securities and Exchange Commission Chairman Christopher Cox. Cox
was criticized by Senate Banking Committee Chairman Christopher Dodd on Tuesday
for not doing more to prevent abusive naked short selling.

[boomer]

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