SEC makes temporary short-selling rule permanent

The Securities and Exchange Commission on Monday made permanent a rule designed to curtail abusive "naked" short selling. "The new rule, Rule 204, requires broker-dealers to promptly purchase or borrow securities to deliver on a short sale," the SEC said. A temporary rule meant to curtail the practice was set to expire on July 31. The SEC said it is also working together with several self-regulatory organizations to make short sale volume and transaction data available.

Source:Marketwatch