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Article: Regulators Say Reg SHO is Working.
- Article from:
- Business Wire
- Article date:
- January 24, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Despite extensive examinations by the SEC and the markets, there has been little or no evidence of extensive "naked short selling" to date, according to comments made at a recent forum held by the North American Securities Administrators Association (NASAA).
The forum was designed to examine how well Reg SHO, a regulation designed to modernize rules on short selling, had performed.
James Brigagliano, assistant director of market regulation at the SEC, said, "While there may be instances of abusive short selling, 99% of all trades in dollar value settle on time without incident."
Brigagliano said the SEC conducted examination at 45 ...