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Legal Update

SEC Issues Emergency Order Suspending "Naked" Short Selling

23 July 2008
Mayer Brown Legal Update
23 July 2008 - On July 15, 2008, the Securities and Exchange Commission (SEC) issued an emergency order (the "Emergency Order") prohibiting anyone from engaging in the "naked" short selling of the securities of Fannie Mae, Freddie Mac and seventeen other financial firms identified in Appendix A to the Emergency Order (the "Appendix A Securities").

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