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Thursday, 15 November 2018

FRA to complete market regs for short-selling next month

REGULATION WATCH- FRA to complete market regs for short-selling next month: The Financial Regulatory Authority finish regulations governing short-selling next month with an eye to rolling out shorts early in 2019, deputy chairman Khaled El Nashar told Amwal Al Ghad. El Nashar said the authority plans to consult with the industry on the regs. He had previously said that short-selling regs will ensure that only brokerages with strong balance sheets will be allowed to offer shorts to their clients under a new license to be created by the regulations. The rules are expected to place limits on the number of shares a short-seller can borrow for a short position and also force borrowers to pay a cash security deposit equivalent to 50% of the securities they’re borrowing.

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