Yesterday, the Australian Securities & Investments Commission lifted its ban on the covered short selling of securities of certain financial institutions. The ban was initially implemented in November, but was extended in January and March. The short sale ban was set to expire on May 31, 2009. In announcing the decision to lift the ban, ASIC stated that "the balance between market efficiency and potential systemic concern has now moved in favour of the ban being lifted."
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Australian Securities & Investments Commission lifts ban on covered short selling of financials
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