On September 18, 2008 the US Securities and Exchange Commission (SEC) issued an order pursuant to the Securities and Exchange Act of 1934 (the SEC Order) that “all persons are prohibited from short selling any publicly traded securities” of certain financial sector firms. This order was updated on September 22, 2008 to provide that US stock exchanges and markets are authorized to specify which firms would be the subject of the prohibition, and that the firms themselves could request that short selling of their securities re-commence.

type Investment Management Alert - September 22, 2008 - Update Re. Short Selling Restrictions in Canada