Short-selling ban extended
The Australian Securities and Investments Commission (ASIC) has extended the ban on covered short selling until November 18.
The regulator announced the extension and said it expected that once that time had elapsed the ban would be lifted.
Commenting on the move, AISC chairman Tony D’Aloisio said market conditions since the ban had been imposed remained difficult.
“While the various Government actions and packages introduced in Australia are positive developments, they are yet to work through the financial system,” he said.
“The financial markets are still fragile, so we feel the reopening of covered short sales should be done in stages and in a measured way over an extended period and have regard to systemic issues, particularly for financial stocks,” D’Aloisio said.
Recommended for you
ASIC has permanently banned a former Perth adviser after he made “materially misleading” statements to induce investors.
The Financial Services and Credit Panel has made a written order to a relevant provider after it gave advice regarding non-concessional contributions.
With wealth management M&A appetite only growing stronger, Business Health has outlined the major considerations for buyers and sellers to prevent unintended misalignment between the parties.
Industry body SIAA has said the falling number of financial advisers in Australia is a key issue impacting the attractiveness and investor participation of both public and private markets.
