Thursday, November 13, 2008

Breraking News-RTRS-Australia seeks permanent ban on naked short selling

CANBERRA, Nov 13 (Reuters) - Australia proposes to permanently ban naked short selling of stocks in response to the global financial crisis, and will pass laws for more disclosure for covered short selling, Corporate Law Minister Nick Sherry said on Thursday.
Sherry said the government would also propose increasing regulation and supervision of ratings agencies.
The proposals will go before parliament today for debate.