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Saturday, 10 December 2016
Last updated 17 hours ago
Sep 24 2008 | 12:55pm ET
British Prime Minister Gordon Brown has bad news for the hedge fund industry: His country’s ban on short-selling might not be so temporary after all.
Speaking on BBC Radio 4, the embattled premier said he expects “new rules for the future” when the current restrictions, which went into effect yesterday and include a ban on shorting certain financials and new disclosure requirements, expire in four months.
“Short-selling is something that has existed in the markets for years, but when groups of people are exploiting a difficult economic situation, it is right to stop the short-selling,” he said.