WASHINGTON, Nov 20 (Reuters) - Citigroup Inc has
asked the U.S. Securities and Exchange Commission to reinstate
its previous short sale ban on financial stocks, a source
familiar with the bank's activities told Reuters on Thursday.
Citi, whose shares plunged more than 26 percent on Thursday, has also approached members of Congress to discuss its concerns about short-selling, the source said, speaking on the condition of anonymity.
The SEC's short-selling ban prohibited investors from making bearish bets on more than 950 companies with business in financial services. It was put in place as an emergency measure on Sept. 19 and expired in early October.
(Reporting by John Poirier; Editing by Leslie Gevirtz) Keywords: FINANCIAL/CITIGROUP SHORT (john.poirier@thomsonreuters.com, +1 202 898 8467) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
Citi, whose shares plunged more than 26 percent on Thursday, has also approached members of Congress to discuss its concerns about short-selling, the source said, speaking on the condition of anonymity.
The SEC's short-selling ban prohibited investors from making bearish bets on more than 950 companies with business in financial services. It was put in place as an emergency measure on Sept. 19 and expired in early October.
(Reporting by John Poirier; Editing by Leslie Gevirtz) Keywords: FINANCIAL/CITIGROUP SHORT (john.poirier@thomsonreuters.com, +1 202 898 8467) COPYRIGHT Copyright Thomson Reuters 2008. All rights reserved. The copying, republication or redistribution of Reuters News Content, including by framing or similar means, is expressly prohibited without the prior written consent of Thomson Reuters.
© 2008 AFX News
