SEC ban on short selling in financials is likely to be extended, NYSE CEO Duncan Niederauer said on a webcast with NYSE listed companies and reporters.
Niederauer has been in "regular communication with the SEC" concerning the ban. They have still not decided what they will be doing, but it's likely the ban will be extended.
However the SEC recognizes the ban is "not a permanent solution" and we will shortly see some clarification on longer-term rules.
- Pressure Builds for SEC to Extend Short Sell Ban
- Bulls Have Little To Hold On To
Niederauer said that one option being considered was to bring back the uptick rule. Niederauer said he is in favor of bringing back the uptick rule.
Also being discussed is a circuit breaker for individual stocks, where a certain percentage decline might halt trading in the stock for a certain period of time.
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