Australian Securities and Investments Commission tagged posts

Short Selling Still an Option

September 23, 2008 New Zealand Taxation  No comments

The New Zealand Stock Exchange (NZX) have issued a statement saying that they will not be following the Australian Stock Exchange(ASX) in banning short selling of stock.

The Australian Securities and Investments Commission (ASIC) banned all forms of short selling on the 19th of September, widening the previous ban on “naked” short selling to include “covered” short selling also. While this action was a response to the turmoil caused on the ASX by naked short selling, the NZX does not see enough short selling activity to warrant such a ban at this point.

Geoff Brown, the NZX markets development manager, was quoted as saying that New Zealand firms are already required to disclose any short sales and that in the eyes of the NZX, short selling was a legitimate activity...

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Short Selling Still an Option

September 23, 2008 New Zealand Taxation  No comments

The New Zealand Stock Exchange (NZX) have issued a statement saying that they will not be following the Australian Stock Exchange(ASX) in banning short selling of stock.

The Australian Securities and Investments Commission (ASIC) banned all forms of short selling on the 19th of September, widening the previous ban on “naked” short selling to include “covered” short selling also. While this action was a response to the turmoil caused on the ASX by naked short selling, the NZX does not see enough short selling activity to warrant such a ban at this point.

Geoff Brown, the NZX markets development manager, was quoted as saying that New Zealand firms are already required to disclose any short sales and that in the eyes of the NZX, short selling was a legitimate activity...

Read More