Restriction on short sales lifted; sellers no longer required to back sales with prior purchases effective from rolling settlement start. The circular withdraws the prior requirement that all sale transactions be backed by delivery or be preceded by an equivalent purchase in the same client's name. The restriction on short sales is rescinded effective July 02, 2001, coincident with the introduction of rolling settlement and the removal of deferral products such as ALBM, BLESS, MCFS and CNS.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Restriction on short sales lifted; sellers no longer required to back sales with prior purchases effective from rolling settlement start.
The circular withdraws the prior requirement that all sale transactions be backed by delivery or be preceded by an equivalent purchase in the same client's name. The restriction on short sales is rescinded effective July 02, 2001, coincident with the introduction of rolling settlement and the removal of deferral products such as ALBM, BLESS, MCFS and CNS.
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