During the 2008 financial crisis, SEC banned short-selling in financial stocks. Throughout financial history, short-sellers get the stick from regulators during financial panics. Short sellers at that time did not expect such a thing can happen because allowing short-selling is important for hedging purposes. Is it a reasonable risk that short-selling index futures will be banned in the next financial crisis? What will be the impact and risks to index futures traders if short-selling index futures were banned in a financial crisis? What are some risk management measures that you would take in the event of a ban?