Staff of the Ontario Securities Commission sought to extend a temporary cease trade order prohibiting short selling in the common equity securities of certain financial sector issuers interlisted in the United States.
The initial order was issued to prevent regulatory arbitrage following emergency orders by the United States Securities and Exchange Commission.
The Commission found it in the public interest to extend the order to parallel the SEC's extensions, thereby promoting fair and orderly markets in Ontario.
The temporary cease trade order was extended with amendments.
