BaFin: Extends Naked Short-Selling Ban To May 31
March 30 2009 - 10:35AM
Dow Jones News
German financial services regulator BaFin said Monday it will
extend a ban on naked short selling for eleven German companies
until May 31.
The ban, which was put in place in September following the
fallout of U.S. investment bank Lehman Brothers, was previously set
to expire March 31.
Eleven German companies, including Aareal Bank AG (ARL.XE);
Allianz SE (AZ); AMB Generali Holding AG; Commerzbank AG (CBK.XE);
Deutsche Bank AG (DB); Deutsche Boerse AG (DB1.XE); Deutsche
Postbank AG (DPB.XE); Hannnover Re AG (HNR1.XE); Hypo Real Estate
Holding AG (HRX.XE); MLP AG (MLP.XE) and Munich Re AG (MUV2.XE),
are affected by the bank.
Naked short selling describes a trader selling shares which he
doesn't own, or have proof of owning, at the time when the
transaction is executed.
Company Web site: www.bafin.de
-By William Launder; Dow Jones Newswires; +49 69 29 725 515;
william.launder@dowjones.com