To link to this article, copy this persistent link:
(Oct 15, 2008) It was reported on October 1, 2008, that Taiwan's Financial Supervisory Commission (FSC) had imposed a ban on short selling of borrowed securities and selling on margin for two weeks, until October 14. The FSC had tightened short selling rules effective September 30, 2008 (to last until December 31, 2008), limiting the combined outstanding amount of short sales of borrowed securities and securities on margin to 10 percent of a company's outstanding stock. The previous cap was 25 percent. In addition, in place of a ten-percent limit, a new cap of one percent of outstanding stock of a listed company was imposed on the amount of short sales of borrowed securities. After the tighter rules failed to prevent a major downturn in the Taiwan stock market, however, the FSC decided on the two-week complete ban on short selling. (Taiwan Imposes Total Ban on Short-Sales for Two Weeks, XINHUA, Oct. 1, 2008, LEXIS/NEXIS, News Library, Most Recent 90 Days File.)
|Author:||Wendy Zeldin More by this author|
|Topic:||Securities More on this topic|
|Jurisdiction:||Taiwan More about this jurisdiction|
Search Legal News
Find legal news by topic, country, keyword, date, or author.
Global Legal Monitor RSS
Get the Global Legal Monitor delivered to your inbox. Sign up for RSS service.
The Global Legal Monitor is an online publication from the Law Library of Congress covering legal news and developments worldwide. It is updated frequently and draws on information from the Global Legal Information Network, official national legal publications, and reliable press sources. You can find previous news by searching the GLM.
Last updated: 10/15/2008