Errors abound as hedge funds report shorting in U.K.

07/7/2008 | Financial Times (free content)

Errors have marred compliance with a new U.K. regulation that requires hedge funds to report when they are shorting stock in a company trying to raise capital. Nearly half of the disclosures have missed filing deadlines, were wrongly calculated or had other problems, a Financial Times analysis found. The rules imposed last month were designed to spot short selling that depressed a share's price at the time that a company was trying to raise capital by issuing rights for new shares.

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