The FSA says it is in discussions with the Chancellor on the issue of short-selling after Vince Cable today claimed the practice was "wrecking" banks' rights issues.
A spokesperson for the financial regulator says it has already moved to ensure investors disclose their short positions and admits abandoning short-selling on banks altogether is a possibility. The Shadow Chancellor of the Liberal Democrats today called for the FSA to step in to stop the short-selling of bank shares following the collapse in value of HBOS stocks in the last 24 hours. Speaking at his party’s conference in Bournemouth today, Cable says that, in the case of HBOS, hedge funds have an advantage over the taxpayer because they know the Government would step in to help a leading ...
To continue reading this article...
Join Professional Adviser for free
- Unlimited access to real-time news, industry insights and market intelligence
- Stay ahead of the curve with spotlights on emerging trends and technologies
- Receive breaking news stories straight to your inbox in the daily newsletters
- Make smart business decisions with the latest developments in regulation, investing retirement and protection
- Members-only access to the editor’s weekly Friday commentary
- Be the first to hear about our events and awards programmes