The Alternative Investment Management Association (AIMA) has questioned the rationale of the Australian Securities and Investments Commission’s (ASIC’s) decision to extend the ban on covered short-selling.
AIMA chairman Kim Ivey said local institutions weren’t suffering like their overseas counterparts.
“Unless ASIC is aware of major write downs in the pipeline for Australian financial companies that are large enough to severely affect their financial integrity, we see little justification for the overt protectionism and share price manipulation now set in place by ASIC,” Ivey said.
