Just announced today:
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By a staff reporter
The Australian Securities and Investments Commission (ASIC) will ban all short-selling to protect Australian markets from falling prey to short-sellers shut out of other markets.
In a dramatic move late Sunday, the corporate watchdog said it would now ban "covered", as well as "naked" short-selling, because restrictions placed on short-selling activity in other markets, internationally, put Australia at a heightened risk.
"These developments which, in effect, restrict short-selling activity in these markets, intensify the risks on the Australian market," ASIC said in a statement.
"Put simply, because global funds can move quickly, the risk of unwarranted activity on the Australian market has intensified.
"This intensity has been assessed by ASIC in the context of the small size, relative to other markets, of the Australian market and the structure of our market."
Great news, let's see if CMR responds tomorrow or is dead in the water as some here have stated.
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