Monday, March 16, 2009

SEC to Meet April 8 to Consider New Short Sale Rules

The SEC will meet on April 8th in order to consider new short sale rule proposals, including the reinstatement of the "uptick rule". The "uptick rule", which was established after the stock market crash in 1929, was abolished in 2007. Last fall, the SEC briefly implemented a temporary ban on short-selling; however, the SEC is now considering what, if any, measures to take in order to protect against a similar run on the market.

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G20 - Hedge Funds to be Registered and Transparent

In anticipation of the financial summit of the G-20 leaders to take place in London on April 2nd, the G-20 finance ministers issued a recommendation to the G-20 leaders to consider the registration of either hedge funds or their managers, as well as for increased disclosure of appropriate information necessary in order to assess the risks hedge funds may pose.

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