ASIC crusade against activist short sellers will be bad for regular folk
The Australian Securities and Investment Commission issued an information sheet this week regarding so-called “activist short selling”.
The document outlines a number of “better practices” it wants short-sellers to adhere to, and some “actions that we may take” if they don’t.
Translation: “Hey hedge-fund folks, do this stuff or we’ll make life difficult for you.”
The problem is not that the corporate regulator can’t do so. It is that these “better practices” are likely to lead to less efficient…
