Of course we all know how to make that happen: Simply regulate short selling and the hedge funds who poison us with it.

"We believe that short selling should operate in a well-structured regulatory framework in the interests of maintaining a fair, orderly and efficient market," said Martin Wheatley, chairman of IOSCO's task force on short selling and also chief executive of Hong Kong's Securities and Futures Commission.

Several European Union countries introduced curbs last year unilaterally, drawing industry criticism over a lack of coordination in a single EU share trading market. The slide in many financial shares continued in spite of the curbs.

We are absolutely thrilled to see some action on this front, let us just tell you.

Regulators seek global approach to short selling [Reuters]