Shooting the messenger: The ban on short selling

Kirchner, SI; Bianchi, R; Green, J

Shooting the messenger: The ban on short selling

Kirchner, SI Bianchi, R Green, J

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Publisher:: The Center for Independent Studies
Publication Type:: Report
Citation:: 2010, pp. 1 - 40
Issue Date:: 2010-01

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Field	Value	Language
dc.contributor.author	Kirchner, SI	en_US
dc.contributor.author	Bianchi, R	en_US
dc.contributor.author	Green, J	en_US
dc.date.issued	2010-01	en_US
dc.identifier.citation	2010, pp. 1 - 40	en_US
dc.identifier.isbn	9781864321579	en_US
dc.identifier.uri	http://hdl.handle.net/10453/16846
dc.description.abstract	Bans on short selling financial stocks were implemented in a number of stock markets around the world at the end of September 2008. In Australia, a ban on `naked short selling (see below for definition) was announced by the Australian Securities and Investments Commission (ASIC) on Friday, 19 September, to take effect from the following Monday. Over the weekend, however, ASIC changed its mind. On Sunday, it announced that the ban would also extend to covered short sales of all listed stocks for a period of 30 days. In announcing the decision, ASIC said: Recent market global conditions, coupled with extensive short selling of stocks, particularly financial stocks, may be causing unwarranted price fluctuations. These fluctuations if unchecked, threaten the operation of fair and orderly stock markets.	en_US
dc.publisher	The Center for Independent Studies	en_US
dc.title	Shooting the messenger: The ban on short selling	en_US
dc.type	Report
utslib.location	Sydney, Australia	en_US
utslib.for	1502 Banking, Finance and Investment	en_US
dc.location.activity	Adelaide, Australia
pubs.embargo.period	Not known	en_US
pubs.organisational-group	/University of Technology Sydney
pubs.organisational-group	/University of Technology Sydney/Faculty of Business
utslib.copyright.status	open_access
pubs.confidential	false	en_US
pubs.place-of-publication	Sydney, Australia	en_US

Abstract:

Bans on short selling financial stocks were implemented in a number of stock markets around the world at the end of September 2008. In Australia, a ban on `naked short selling (see below for definition) was announced by the Australian Securities and Investments Commission (ASIC) on Friday, 19 September, to take effect from the following Monday. Over the weekend, however, ASIC changed its mind. On Sunday, it announced that the ban would also extend to covered short sales of all listed stocks for a period of 30 days. In announcing the decision, ASIC said: Recent market global conditions, coupled with extensive short selling of stocks, particularly financial stocks, may be causing unwarranted price fluctuations. These fluctuations if unchecked, threaten the operation of fair and orderly stock markets.

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http://hdl.handle.net/10453/16846