News article

FSA 'to protect' 29 firms from short-selling

FSA 'to protect' 29 firms from short-selling
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The Financial Services Authority (FSA) has released a list of 29 companies it wants to protect from short-selling in an attempt to confront the global financial slowdown.

HBOS, Lloyds TSB and the Royal Bank of Scotland are all on the list published by the UK regulators.

Insurance companies such as Legal and General, Aviva, RSA and Standard Life are also on the list. The latter's shares have dropped in the last year, reports the Financial Times.

Andrew Monk, chief executive of Blue Oar Securities, commented: "We'd anticipate some fairly violent price moves, as people who can’t extend shorts look to close them. You could see a big scramble if prices start rising."

The FTSE 100 index of shares was predicted to open almost 300 points higher today (September 19th).

The FSA exists to promote fair, efficient markets and help retail customers achieve a fair deal.

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