ASIC lifts short sell ban
The Australian Securities and Investments Commission (ASIC) has finally lifted its ban on short-selling effective from this morning.
The regulator announced a short while ago that the ban, which had been in place since 21 September, last year, would be lifted from 10 am.
ASIC said it had reviewed market conditions and considered that the balance between market efficiency and potential systemic concern had now moved in favour of the ban being lifted.
However it said that the global financial crisis and global recession continued to place pressure on Australia’s markets and, because of this, it would not hesitate to reimpose the ban immediately if the need arose.
AUTHOR
Mike Taylor
Recommended for you
Results are out for the latest sitting of the ASIC financial advice exam, with the pass rate falling for the second consecutive sitting.
Adviser losses for the end of June have come in 143 per cent higher than the same period last year, and bring the total June loss to over 350.
ASIC’s enforcement action is having an active start to the new financial year, banning a former Queensland financial adviser for 10 years in relation to fees for no service conduct.
ASIC has confirmed the industry funding levy for the 2024–25 financial year, and how much licensees can expect to pay.
