Washington, D.C., April 24, 2009 (LAWFUEL) – The Securities and Exchange Commission will hold a roundtable on May 5 beginning at 10 a.m. ET to further discuss whether short sale price test restrictions or short sale circuit breakers should be adopted.
The Commission voted unanimously on April 8 to propose two approaches to restrictions on short selling. If adopted, the price test approach would apply on a permanent market-wide basis, and the circuit breaker approach would apply to a particular security during severe market declines in the price of that security.
“This roundtable will help ensure that any policy decisions going forward in the area of short selling regulation are the product of a highly deliberate review process,” said SEC Chairman Mary L. Schapiro.
Roundtable participants will include leaders from self-regulatory organizations, trading venues, the financial services industry, investment firms, and the academic community. The final agenda and list of panelists will be announced at a later date.
The roundtable will be held in the auditorium at the SEC’s headquarters at 100 F Street, N.E., in Washington, D.C. The roundtable will be open to the public with seating on a first-come, first-served basis. The roundtable also will be webcast on the SEC Web site.
For additional information about the roundtable, contact the SEC’s Division of Trading and Markets at (202) 551-5720.