Submitted on Thursday 19th March 2020
Rejected on Monday 20th April 2020
Current status: Rejected
Rejection code: irrelevant (see below for details)
Create a law to ban the short-selling of shares
Ensure that individuals, investment companies etc. can only sell shares they actually own thus preventing them from short-selling with the sole objective of pushing the market down in order for them to profit substantially at the expense of the vast majority of smaller investors & pension companies.
The terrible effect that the COVID-19 virus is having on the global population is mirrored and exacerbated in the global stock markets by those who engage in the short-selling of shares. The vast majority of small investors watch helplessly as the value of their shares and pensions declines rapidly because of the actions of a tiny minority of greedy & wealthy individuals & investment companies that stand to make billions & billions in profit by short-selling. This practice should be illegal.
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The Government e-Petitions Team gave the following reason:
Regulation of short-selling is a matter for the Financial Conduct Authority, the UK's regulator for financial services, not the Government or Parliament.
The FCA's statements on short-selling can be found here: www.fca.org.uk/markets/short-selling/statement-short-selling-bans-and-reporting
You can find out more about coronavirus and how you can protect yourself and others here:
www.gov.uk/coronavirus
www.nhs.uk/conditions/coronavirus-covid-19/
You can read NHS tips to help if you are worried about coronavirus here: www.nhs.uk/oneyou/every-mind-matters/coronavirus-covid-19-anxiety-tips
You can read impartial analysis of the Government response to coronavirus and policy developments here:
commonslibrary.parliament.uk/coronavirus/
You may also be interested to know that because of the large number of petitions that have been started in relation to coronavirus, the Petitions Committee has been questioning the Government about its response to the coronavirus outbreak.
Find out more and watch the Committee put questions suggested by petitioners to Government Ministers and the Deputy Chief Medical Officer: committees.parliament.uk/committee/326/petitions-committee/news/145767/committee-question-deputy-chief-medical-officer-and-ministers-on-coronavirus-response/
Read letters asking further questions of Government Ministers: committees.parliament.uk/committee/326/petitions-committee/publications/3/correspondence/
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