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Compliance

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NASDAQ’s Greifeld Comments on Short Sale Ban Lift

After the expiration was extended beyond the initial October 2nd date, the SEC’s Division of Markets and Trading officially lifted the ban on short selling financial securities as of midnight October 8th.

Bob Greifeld, chief executive officer of the NASDAQ OMX Group, issued a statement in support of the end of the short sale ban as market participants prepared to see what would happen next as short selling came back into play.

Greifeld stated, “NASDAQ OMX supports the SEC action today to lift the temporary ban placed on short selling in financial stocks. We will continue to closely monitor market conditions with regard to short selling. NASDAQ OMX remains engaged in active dialogue with regulators and the industry to improve conditions for investors and companies related to short selling activity. We believe the new in-place rules deliver strong and necessary investor protections related to naked short selling. The strengthened regulation will go a long way to prevent nefarious market activity which is detrimental to the market quality we endeavor to provide to investors and companies each day.”

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