News & Analysis as of October 18, 2024

Securities Exchange Act › Short Sales

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The Securities Exchance Act is a United States federal statute enacted in 1934 to govern the secondary securities trading market. In addition, the Securities Exchange Act established the Securities and Exchange... more +

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Market Pushes Back on SEC Short Sale Reporting Rule

Carlton Fields on 1/16/2024

On October 13, the SEC adopted a new Securities Exchange Act rule that will require ‘‘institutional investment managers,’’ such as insurance companies, banks, brokers and dealers, investment advisers, and pension funds, that...more

SEC adopts rules requiring the reporting of securities loans and the disclosure of short sales

Eversheds Sutherland (US) LLP on 11/16/2023

On October 13, 2023, the Securities and Exchange Commission (SEC) adopted new Rule 10c-1a under the Securities Exchange Act of 1934, as amended (1934 Act), requiring certain persons to report securities loan information to...more

SEC Adopts Short Interest Reporting Requirement

Morgan Lewis on 11/13/2023

The Securities and Exchange Commission (SEC) adopted a new rule and form requiring certain persons to report short sale-related data to the SEC, which will in turn publish aggregate data. The SEC also adopted related...more

Canadian Dual-Listed Company Insiders May Become Subject to U.S. Short-Swing Profit and Insider Reporting Rules

Davies Ward Phillips & Vineberg LLP on 11/1/2023

Buried in the National Defense Authorization Act for Fiscal Year 2024, which the U.S. Senate passed earlier this year, is a provision that, if enacted, will eliminate exemptions relied upon by insiders of dual-listed Canadian...more

SEC Adopts Short Sale Disclosure Rules

Skadden, Arps, Slate, Meagher & Flom LLP on 10/27/2023

The Securities and Exchange Commission (SEC) has voted to adopt new Rule 13f-2 and related Form SHO requiring certain institutional investment managers (managers) to report short sale-related information to the SEC....more

SEC Adopts New Short Sale Disclosure Rule

Proskauer Rose LLP on 10/25/2023

On October 13, 2023, the Securities and Exchange Commission adopted new Rule 13f-2 to require monthly reporting of short sale positions and activity data on new Form SHO by institutional investment managers. The new rules...more

The SEC Adopts New Short Sale Reporting Requirements for Institutional Investment Managers

Katten Muchin Rosenman LLP on 10/23/2023

On October 13, 2023, the SEC adopted Rule 13f-2 which will require institutional investment managers (“Institutional Managers”) to report on new Form SHO specified short position data and short activity data for equity...more

Market Turmoil Caused by “Run on the Banks” Leads to Trading Halts

Perkins Coie on 3/15/2023

On March 10, 2023, volatility resulting from concerns regarding runs on certain banks triggered trading halts in those banks’ stocks on the New York Stock Exchange (NYSE) and Nasdaq. March 13, 2023, saw additional trading...more

Distortion to Static: Key First Circuit Opinion Clarifies Limits for Short Sellers

Holland & Knight LLP on 1/17/2023

The U.S. Court of Appeals for the First Circuit on Jan. 3, 2023, ruled against Defendant Gregory "Emmanuel" Lemelson's request for a new trial in SEC v. Lemelson. The opinion and the underlying matter are critical reads for...more

SEC Proposes Monthly Short Sale Reporting and Aggregated Public Disclosure

WilmerHale on 3/9/2022

On February 25, 2022, the Securities and Exchange Commission (SEC) proposed Rule 13f-2 under the Securities Exchange Act of 1934 (the Exchange Act) and the corresponding Form SHO, which, if adopted, would require...more

The Supreme Court - May 2016 #2

Dorsey & Whitney LLP on 5/18/2016

The Supreme Court of the United States issued decisions in six cases today: Spokeo, Inc. v. Robins, No. 13-1339: The Fair Credit Reporting Act of 1970 (“FCRA”) imposes a number of requirements regarding the creation and...more

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Securities Exchange Act › Short Sales

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