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Australia: Ban on Short Selling Extended

(Oct. 27, 2008) Australia's corporate regulator, the Australian Securities and Investments Commission (ASIC), has extended its ban on covered short selling for financial securities until January 27, 2009, and ASIC's ban on covered short selling of non-financial securities may be extended until November 18, 2008. Financials are those entities in the S&P/Australian Stock Exchange 200 Financial Index. (Press Release, ASIC Media Release 08-210, ASIC Extends Ban on Covered Short Selling (Oct. 2008), available at http://www.asic.gov.au/ASIC/asic.nsf/byHeadline/08-210%20ASIC%20extends%20ban
%20on%20covered%20short%20selling?opendocument
.)