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ADDITIONAL SECURITIES NOW SUBJECT TO THE SEC'S SHORT SALE PROHIBITION - SEE ATTACHED LIST
On Thursday, September 18, 2008 the Securities and Exchange Commission ("SEC") issued an order (the "Order") pursuant to Section 12(k)(2) of the Securities Exchange Act of 1934 (the "Exchange Act") temporarily halting short sales in the publicly traded securities of certain financial firms, identified in Appendix A to the Order ("Included Financial Firms"). The Order can be accessed on the SEC's website at http://www.sec.gov/rules/other/2008/34-58592.pdf.
On September 21, 2008, the SEC amended the Order (the "Amended Order"), pursuant to its Section 12(k)(2) powers, to, among other things, provide that the listing markets shall select the individual financial institutions covered by the Amended Order. The common equity of such financial institutions are covered by the Amended Order's prohibition on short sales (referred to in the Amended Order as "Covered Securities"). Covered Securities must be banks, savings associations, broker-dealers, investment advisors, and insurance companies, whether domestic or foreign, and the owners of any of these entities.
The Amex will not have any discretion in the determination of which companies are Covered Securities. Only those companies that fit into one of the prescribed categories will be included. The Amended Order may be accessed on the SEC's website at http://www.sec.gov/rules/other/2008/34-58611.pdf.
Pursuant to the Amended Order the American Stock Exchange ("Amex") identified the listed companies specified on Attachment 1 to this notice as Covered Securities, effective at the opening of trading TODAY Monday, September 22, 2008. Please note that the list includes those listed companies which were Included Financial Firms pursuant to the Order and five (5) additional companies. A detailed email was sent to all issuers of listed common stock describing the process to follow for companies not included on the list that believe they qualify as a Covered Security. In addition, companies included on the list may choose to opt out of the application of the revised short sale prohibition by informing the Amex of that determination. Listed company questions should be directed by email to ListingQualifications@amex.com or by phone to 212.306.1331.
The Amended Order makes a number of other material revisions to the terms of the short sale prohibition established on Friday. Accordingly, you are urged to read the Amended Order carefully. An additional Notice will be issued by Amex shortly.
Questions regarding this Notice should be directed as follows:
| Listed companies: | Members and member organizations: | |
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Amex Listing Qualifications ListingQualifications@amex.com 212.306.1331 Robert Wotczak Managing Director Equities robert.wotczak@amex.com 212.306.2263 Paul Dorfman Vice President Equities paul.dorfman@amex.com 212.306.1418 |
Richard Farber Vice President Division of Regulation & Compliance richard.farber@amex.com 212.306.5310 Ellen O'Rourke Director Division of Regulation & Compliance ellen.orourke@amex.com 212.306.1865 |