On October 1, 2008, the United States Securities and Exchange Commission (“SEC”) announced the extension of several temporary orders intended to ensure the continued smooth operation of orderly markets. While the SEC noted several important factors short selling provides to an efficient market, the SEC continues to be concerned about short selling tactics used to mislead the markets.
Category Archives: Short Sales
SEC Issues Guidance Regarding the Reporting of Short Selling by Certain Institutional Investment Managers
September 26, 2008
Yesterday, the U.S. Securities and Exchange Commission (“SEC”) posted a set of questions and answers concerning the SEC’s temporary order requiring certain institutional investment managers to report short sales. Effective this week, institutional investment managers must report daily short sales of section 13(f) securities. According to the SEC, questions and answers presented on their website, were prepared by and represent the views of the Staff of the Divisions of Corporation Finance, Investment Management, and Trading and Markets to assist in the understanding and application of the order. The questions and answers are not rules, regulations, or statements of the SEC. You can read the SEC’s set of questions and answers by clicking the following link – http://www.sec.gov/divisions/marketreg/shortsaledisclosurefaq.htm.
