The American Bankers Association on Thursday urged federal regulators to investigate a spate of significant short sales of publicly traded banking equities that it said were “disconnected from the underlying financial realities.”
In a letter to U.S. Securities and Exchange Commission Chair Gary Gensler, the lobby group said it had also observed “extensive social media engagement” about the health of various banks that was out of step with general industry conditions.
Source: U.S. bankers urge SEC to probe short sales, reduce ‘abusive’ trading | Reuters
