(Updated with compiled list of NYSE-Listed Companies from 09/19/08 and today, 09/22/08) Please note that Credit Suisse Group has been added to the list, and that GLG Partners, Inc, listed in an earlier entry here as "LG", has been revised with its correct symbol, "GLG".
Please be advised that, effective immediately, the SEC has revised its temporary emergency action with respect to the Order prohibiting short selling in financial firms. As there are material differences in the application of the prohibition, you should read the new SEC order, which can be found at: http://www.sec.gov/news/press/2008/2008-218.htm.
SEC NYSE Short Sale Prohibiton List
The SEC has informed us that all companies that were covered by Friday's order will also be covered by the newly revised short sale prohibition. The SEC has delegated to each national securities exchange the authority to identify additional listed companies that qualify for inclusion in the list of companies covered by the revised prohibition.
The additional companies must be in one of the following categories:
- Banks, as defined in 15 U.S.C. 78c(a)(6)
- Savings associations, as defined in 15 U.S.C. 78c(a)(46)
- Registered brokers or dealers, as defined in 15 U.S.C. 78c(a)(48)
- Insurance companies, as defined in 15 U.S.C. 80a-2(a)(17)
- Investment advisors, both registered and unregistered
- Banks, savings associations, brokers, dealers and insurance companies that are similar to those covered by the foregoing statutory definitions but which are regulated by a foreign (rather than U.S.)regulatory authority
- US and foreign investment advisors, both registered and unregistered
- Companies that control or have majority ownership of companies that meet one of the above criteria.
According to the SEC, companies that were on the original list attached to Friday's Order, or that fall into one of the categories expected to be covered by the new order, may opt out of the application of the revised short sale prohibition by informing the NYSE of that determination. The list of additional NYSE-listed financial firms that meet the revised criteria follows. This list is subject to amendment, and we will notify you of any changes in subsequent notices. We hope that this correspondence will assist you in preparing your systems prior to the opening of trading today.
NYSE-Listed Companies Added to the List as of Monday Morning, Sept. 22, 2008
- CS Credit Suisse Group
- GLG GLG Partners, Inc.
- GE General Electric Co.
- OCN Ocwen Financial Corporation
- KBW KBW, Inc.
- GFG Guaranty Financial Group Inc.
- MFG Mizuho Financial Group, Inc.
- FMR First Mercury Financial Corporation
- STC Stewart Information Services Corporation
- FCF First Commonwealth Financial Corporation
- MTB M&T Bank Corporation
- DFS Discover Financial Services
- BMO Bank of Montreal
- TD Toronto Dominion Bank
- CM Canadian Imperial Bank of Commerce
- FMD The First Marblehead Corporation
- BBV Banco Bilbao Vizcaya SA
- CIB BanColombia SA
- LM Legg Mason, Inc.
- NFP National Financial Partners Corp.
- AXP American Express Company
- CIT CIT Group Inc.
- GM General Motors Corporation
- HIG The Hartford Financial Services Group
- ADS Alliance Data Systems Corporation
- ALD Allied Capital Corporation
- RAS RAIT Financial Trust
- DRL Doral Financial Corporation
- FSR Flagstone Reinsurance Holdings
- MCO Moody's Corporation
- COF Capital One Financial Corporation
Category: Securities
