Yesterday, the Australian Securities & Investment Commission (ASIC) announced the extension of its temporary ban on the covered short selling of financial securities. This ban was initially implemented in November with an original expiration date of January 27, 2009. The ban was extended in late January, but was set to expire on March 6, 2009. Under the extension, ASIC will keep the ban on the covered short selling of financial securities until May 31, 2009.