Banks Call On FCA To Absolve Short-Selling After GameStop

Law360, London (February 19, 2021, 2:27 PM GMT) -- A group of banks urged U.K. regulators on Friday to promote to the market the benefits of short-selling amid concerns that the practice has received bad press from news organizations and on social media during the GameStop Corp. saga.

The Bank of England's Securities Lending Committee, made up of representatives from the banking sector, discussed the prospect of the Financial Conduct Authority making a public statement on the merits of traders using short-selling as a legitimate investment strategy.

The practice is a way for investors to bet against the price of a stock by borrowing a security and selling it on...

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