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9.7 Short Sale Reforms

<< Title IX Overview

9.7 Short Sale Reforms

 

 


9.7.       Short Sale Reforms.  The Act amends the Exchange Act to require the SEC to adopt rules mandating that institutional investment managers (Form 13F filers) publicly disclose short sales of securities.  The rule mandate does not include disclosure of short sellers; however, the Act amends the Exchange Act to prohibit manipulative short sales and to require broker-dealers to notify their customers that they may opt out of permitting their securities to be used by their broker-dealer in connection with short sales and that their broker-dealers may earn compensation in connection with lending customer securities. [§929X]