Short-selling ban expected to be lifted
Analysts are predicting the Australian Securities and Investments Commission (ASIC) will next week opt not to extend its ban on short-selling and that the move will have significant share price implications for financial stocks.
Analyst reports are reminding subscribers that the ASIC short-selling ban is scheduled to expire next Tuesday (27 January) and that if the regulator decides not to extend the measure, it would be following the same course as the United Kingdom regulator and the US Securities Exchange Commission.
The analysis said financial stocks had outperformed the market during the short-selling ban, with the S&P/ASX 200 Financials Accumulation Index outperforming the S&P/ASX 200 Accumulation Index by 8 per cent.
The Government has moved to legislate to require the disclosure of short-selling positions but there remains disagreement between the Government and some sectors of the industry over how, precisely, that disclosure regime should work.
AUTHOR
Mike Taylor
Recommended for you
Charlie Viola, founder of private wealth brand Viola Private Wealth, is confident he can find the “best of the best” when it comes to clients and advisers.
Having a trusted second-in-command to handle daily operations is critical for financial advice leaders who are seeking greater work/life balance, according to an advisory firm.
Wealth Data has revealed the top five licensees for financial adviser growth over the September quarter, with more than 150 advisers joining in Q3 overall.
Former Sydney financial adviser, David Valvo, has pled guilty in court to a charge of dishonest conduct.
