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News in brief

30 March 2009

Read more: short selling bans pension fund Eseclending NAPF LPFA resumes lending F&C stops lending

SEC ponders return of the uptick rule
The Securities Exchange Commission (SEC) may reinstate the uptick rule, which was eliminated in 2007. The uptick rule requires short sellers to sell at a price above a stock's most recent trading price.SEC Chairman Mary Schapiro said hopefully by next month the agency will open for public comment a proposal to reinstate the uptick rule.

F&C Management stops lending
F&C Management has confirmed it has ceased all stock lending activity.A spokesman for F&C said: "We have scaled back our securities lending activity and will reduce headcount accordingly." F&C announced in December 2008 that it would be looking to reduce costs in areas that were showing weak performance. An area that it has seen less demand for has been in stock lending. This is the first time F&C has ever stopped its securities lending activities....