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Banking group asks SEC for probe after alleging abusive short-selling practices

Published: May 5, 2023 at 4:06 a.m. ET A Pacific Western Bank sign is seen on May 4, 2023 in Los Angeles, California. David McNew/Getty Images The trade group representing U.S. banks has asked the Securities and Exchange Commission to take action against what it calls market manipulation and abusive short-selling practices after the latest

banking-group-asks-sec-for-probe-after-alleging-abusive-short-selling-practices

A Pacific Western Bank sign is seen on May 4, 2023 in Los Angeles, California.

David McNew/Getty Images

The trade group representing U.S. banks has asked the Securities and Exchange Commission to take action against what it calls market manipulation and abusive short-selling practices after the latest nosedive in the stock market.

The American Bankers Association letter to SEC Chair Gensler is dated Thursday, which saw another round of mass selling of regional banks.

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