Enforcement Actions Are SEC's First Under Revised Rule to Curtail Abusive Short Selling
Washington, D.C., Jan. 26, 2010 — The Securities and Exchange Commission today separately charged two California investment advisory firms for engaging in improper short selling of securities in advance of their participation in a company's secondary offering. These mark the first cases filed under the SEC's amended Rule 105 of Regulation M, which is designed to prohibit manipulative short selling ahead of follow-on securities offerings.
Continue Reading
