A NEW report from the International Organisation of Securities Commissions appeared yesterday to back the federal Government's moves to devise a new regime to manage short selling.
But it was more an opportunity for the relevant minister, Nick Sherry, to say how well he's doing in Australia, than for traders to see any specific detail.
Essentially the Madrid-based IOSCO articulated four principles that Australia is following.
They are, one, that short selling should be subject to suitable controls to ensure orderly markets; two, that there should be a reporting regime that provides "timely" information to the market; three, there should be an effective compliance and enforcement system and four, there should be exemptions allowed for some specific types of transaction.
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