On 17 August 2022, C-IIROC issued guidance on short selling and sufficient securities collateral. C-IIROC issued short selling guidance note 22-0130 re participant obligations to settle short sales. Reasonable Expectation Test The notice advises that a member participant must have a reasonable expectation of holding sufficient securities to settle short sales, prior to the order…
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Israel – TASE Guidelines on Short Selling
On 9 August 2022, ISR TASE proposed further revisions to short selling rules given late comments. TASE board of directors chairman has approved, to be submitted to board of directors. In case of a short position created by error, TASE member would be required to report position to TASE every day from 3rd trading day…
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U.S. – SEC Issues Short Selling Fine
On 12 August 2022, SEC imposed $125K fine on B/D for naked short selling. SEC reported settlement for violations of bona fide market making in short sell trades. Settlement names defendant broker-dealer firm IMC Chicago LLC, for violations of Regulation SHO and Rule 203(b)(1) thereunder, (17 CFR 242.203(b)(1)) re short sales. Alleged Violations From June…
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Rulefinder Alerts to Short Selling Bans
On 10 August 2022, Rulefinder provided an early warning to temporary short selling bans in two countries - S Korea and Turkey. Temporary short selling bans are effective 11 August 2022.
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Egypt – Updated List of Short Selling Securities
On 3 August 2022, the Egyptian Exchange (EGX) announced an update to the criteria of securities eligible for short selling. Updated list of eligible securities for short selling.
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S Korea – FSC Illegal Short Selling Measures
On 28 July 2022, SK FSC issued new detection and punishment measures. SK FSC announced measures to strengthen detection and punishment of illegal short selling, and enhancing a short selling related system jointly with related organizations. Follows SK FSC December 2020 updated on passage of illegal short-selling bill. Meeting SK FSC Chairman Kim Joo-hyun presided…
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