SEC to take hard line on rumor spreading

As soon as Jamie Dimon went off on short sellers (see next item), the SEC took the unusual step of issuing a warning that it is taking hard look at rumor mongering to manipulate securities prices. This is not necessarily news. We all knew various probes were underway. One settlement had already been announced. The move was likely intended as a warning, notes the New York Times. The SEC intends to begin the probe this week. It will look at policies in place to prevent false rumors from being spread. This is an inherently tricky area. Can you really police rumors? But it does put people on notice, and may deter coordinated attempts to spread false information.  

For more:
- here's the New York Times article

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