Short Sales Marked on the Consolidated Tape?
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The SEC is seeking public comments on the feasibility, benefits, and costs of a short selling disclosure program, which could require the real-time reporting of short sales on the consolidated tape. The study is being required under Dodd-Frank.
Under a proposed voluntary pilot program, public companies would agree to have all trades of their shares marked "long," "short," "market maker short," "buy," or "buy-to-cover," and reported as such in real time through the Consolidated Tape.
The SEC is also seeking comment on a position reporting regime, which would entail real time reporting of investors' short positions either to the public or to regulators only.
The SEC is required to submit a report on the study to Congress by July 21, 2011
The public comment period will remain open for 45 days following publication of the request in the Federal Register.
Link to More Details
Under a proposed voluntary pilot program, public companies would agree to have all trades of their shares marked "long," "short," "market maker short," "buy," or "buy-to-cover," and reported as such in real time through the Consolidated Tape.
The SEC is also seeking comment on a position reporting regime, which would entail real time reporting of investors' short positions either to the public or to regulators only.
The SEC is required to submit a report on the study to Congress by July 21, 2011
The public comment period will remain open for 45 days following publication of the request in the Federal Register.
Link to More Details
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