U.S. Securities & Exchange Commission Seal
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Statement of SEC Division of Trading and Markets


Washington, D.C., Sept. 19, 2008 — The Securities and Exchange Commission's Division of Trading and Markets today issued the following statement:

"The Commission staff is recommending to the Commission a modification to its order prohibiting short selling in securities of specified financial firms. This modification would extend, for the life of the order, the exemption for hedging activities by exchange and over-the-counter market makers in derivatives on the securities covered by the order. This exemption is consonant with short position restrictions of the U.K. Financial Services Authority."



Modified: 09/19/2008