NO.PZ2018062002000076
问题如下：
Country A’s regulatory department is planning on taking measures to help promote its market efficiency, which of the following actions would not be helpful of country A to reach its goal?
选项：
A.
Restrict short selling.
B.
Release restriction for unrestricted foreign investor to trade.
C.
Issue penalties to insiders for using unfair nonpublic information.
解释：
A is correct.
Permitting foreign investor trading and penalizing insider trading would both encourage greater market participation and hence would increase market efficiency. However, restricting short selling would reduce arbitrage and impede market efficiency.
考点：Efficient Capital Market And Its Forms
这道题问选项ABC哪一个监管规则会妨碍市场交易的有效性。
A 限制卖空相当于限制交易，如果市场禁止卖空行为，会妨碍市场的有效性。
B 允许外国投资者自有交易，相当于增加了市场的参与度，市场参与者越多，市场越有效。
C 惩罚做内幕交易的投资者，对内幕交易者进行监管和惩戒会使得市场参与者能更加公平的进行交易，市场有效性增加。
不限制不受限制的外国投资者？
