SEC Extends New Short Sale Rule Compliance Date
FOR IMMEDIATE RELEASE
Washington, D.C., Nov. 4, 2010 — The Securities and Exchange Commission has extended the date for compliance with the Commission's new short sale rule to Feb. 28, 2011. The extension was granted to give certain exchanges additional time to modify their market opening, reopening, and closing procedures for individual securities covered by the rule, and in order to provide additional time to market participants for programming and testing of systems for implementation.
The Commission's new short sale rule will restrict the prices at which a stock can be sold short if the stock's price drops 10 percent or more in one day.
The Commission's extension of the compliance date from Nov. 10, 2010, to Feb. 28, 2011, is available on the SEC website (www.sec.gov).
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