SEC Proposes Ban on Magnetar-Like Deals

  • By: Lois Beckett, ProPublica
  • Date: September 20, 2011
  • Source:

The Securities and Exchange Commission yesterday unveiled proposed rules to ban hedge funds and banks from assembling risky securities, marketing them to investors and then immediately betting against their own creations, reaping profits when they fail. The rule would also ban firms from setting up risky securities for the benefit of an undisclosed third party.

This article gives details of the proposed rules.

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