UK's FSA slaps temporary ban on shorting financial stocks
AFXU


LONDON, Sept 18 (Reuters) - The UK Financial Services Authority said investors will be temporarily barred from taking new short positions in financial stocks from midnight (2300 GMT) on Thursday Sept. 18.

The FSA said the ban will remain in force until January 16 next year, and will be reviewed after thirty days.

'We have taken this decisive action, after careful consideration, to protect the fundamental integrity and quality of markets and to guard against further instability in the financial sector,' FSA chief executive Hector Sants said in a statement.

(Reporting by Myles Neligan; Editing by Andrew Callus) Keywords: FSA/

They should have frozen existing large shorts for 12 months to teach the B******* a lesson.