SEC Implements New Rules for Increased Transparency in Short Selling Market
The Securities and Exchange Commission (SEC) has adopted Rule 10c-1a, aimed at increasing transparency in the securities lending market. The rule requires certain persons to report information about securities loans to a registered national securities association (RNSA) and mandates RNSAs to make certain information publicly available. The SEC believes that this rule will enhance oversight, enforcement, and promote fair and efficient markets. The compliance dates for the new rule will be staggered, with full implementation expected within 24 months.