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达达K
2022-02-26

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SEC considers new rules: short sellers are required to report related activities monthly

新规将适用于持有至少1000万美元空头头寸或相当于总流通股2.5%以上的机构经理。

SEC considers new rules: short sellers are required to report related activities monthly

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I am pleased to support this proposal because, if adopted, it will strengthen transparency in an important area of our market that would benefit from greater visibility and oversight. The new rulemaking will apply to institutional managers who hold short positions of at least $10 million or equal to more than 2.5% of total outstanding shares, Gensler said.</p><p>It is important for the public and the Commission to learn more about this important market, particularly during times of stress or volatility. The proposed rules will help the Commission deal with future market events, striking a balance between transparent demand and price discovery processes. As early as 2005, the SEC established a regulation called Regulation SHO to restrict naked short selling. This regulation stipulates that investors must have sufficient reasons to ensure that they have the ability to hold the stocks to be shorted before the transaction is settled. Otherwise, it is necessary to cover the position, otherwise it will be Fail to Deliver. If the naked short seller is found to be suspected of short selling or attacking the stock price afterwards, it will be a crime.</p><p>\"Naked short selling\" refers to the investment method in which investors directly sell non-existent stocks in the market without borrowing stocks, and then buy back the stocks to obtain profits when the stock price falls further. Traders who engage in \"naked short selling\" only need to buy the stock before the delivery date, and the transaction will be successful. Since \"naked short selling\" sells non-existent stocks, the volume may be very large, so it will have a severe impact on the stock price.</p><p>Investors believe that short sellers manipulate the market, may be fraudulent and lack of public data on short selling transactions. The proposed new regulations try to make up for this problem by further enhancing market transparency.</p><p>By design, the new rule will increase the disclosure of so-called \"buy-cover\", a rule that short-selling critics may welcome as it will aim to further curb so-called \"naked short selling\". Following the outbreak of the global financial crisis in 2008, the Securities and Exchange Commission banned traders from using non-existent stocks to short shares of publicly traded companies.</p><p>Late last year, the SEC proposed a rule that would require brokerage firms and asset managers that lend securities to short sellers to report data on each loan to watchdogs such as the Financial Industry Regulatory Authority within 15 minutes of lending.</p><p>The SEC said it extended the public comment period on the rule in light of its latest proposed rule changes.</p><p></body></html></p>","source":"highlight_wallstreetcn","collect":0,"html":"<!DOCTYPE html>\n<html>\n<head>\n<meta http-equiv=\"Content-Type\" content=\"text/html; charset=utf-8\" />\n<meta name=\"viewport\" content=\"width=device-width,initial-scale=1.0,minimum-scale=1.0,maximum-scale=1.0,user-scalable=no\"/>\n<meta name=\"format-detection\" content=\"telephone=no,email=no,address=no\" />\n<title>SEC considers new rules: short sellers are required to report related activities monthly</title>\n<style type=\"text/css\">\na,abbr,acronym,address,applet,article,aside,audio,b,big,blockquote,body,canvas,caption,center,cite,code,dd,del,details,dfn,div,dl,dt,\nem,embed,fieldset,figcaption,figure,footer,form,h1,h2,h3,h4,h5,h6,header,hgroup,html,i,iframe,img,ins,kbd,label,legend,li,mark,menu,nav,\nobject,ol,output,p,pre,q,ruby,s,samp,section,small,span,strike,strong,sub,summary,sup,table,tbody,td,tfoot,th,thead,time,tr,tt,u,ul,var,video{ font:inherit;margin:0;padding:0;vertical-align:baseline;border:0 }\nbody{ font-size:16px; line-height:1.5; color:#999; background:transparent; }\n.wrapper{ overflow:hidden;word-break:break-all;padding:10px; }\nh1,h2{ font-weight:normal; line-height:1.35; margin-bottom:.6em; }\nh3,h4,h5,h6{ line-height:1.35; margin-bottom:1em; }\nh1{ font-size:24px; }\nh2{ font-size:20px; }\nh3{ font-size:18px; }\nh4{ font-size:16px; }\nh5{ font-size:14px; }\nh6{ font-size:12px; }\np,ul,ol,blockquote,dl,table{ margin:1.2em 0; }\nul,ol{ margin-left:2em; }\nul{ list-style:disc; }\nol{ list-style:decimal; }\nli,li p{ margin:10px 0;}\nimg{ max-width:100%;display:block;margin:0 auto 1em; }\nblockquote{ color:#B5B2B1; border-left:3px solid #aaa; padding:1em; }\nstrong,b{font-weight:bold;}\nem,i{font-style:italic;}\ntable{ width:100%;border-collapse:collapse;border-spacing:1px;margin:1em 0;font-size:.9em; }\nth,td{ padding:5px;text-align:left;border:1px solid #aaa; }\nth{ font-weight:bold;background:#5d5d5d; }\n.symbol-link{font-weight:bold;}\n/* header{ border-bottom:1px solid #494756; } */\n.title{ margin:0 0 8px;line-height:1.3;color:#ddd; }\n.meta {color:#5e5c6d;font-size:13px;margin:0 0 .5em; }\na{text-decoration:none; color:#2a4b87;}\n.meta .head { display: inline-block; overflow: hidden}\n.head .h-thumb { width: 30px; height: 30px; margin: 0; padding: 0; border-radius: 50%; float: left;}\n.head .h-content { margin: 0; padding: 0 0 0 9px; float: left;}\n.head .h-name {font-size: 13px; color: #eee; margin: 0;}\n.head .h-time {font-size: 12.5px; color: #7E829C; margin: 0;}\n.small {font-size: 12.5px; display: inline-block; transform: scale(0.9); -webkit-transform: scale(0.9); transform-origin: left; -webkit-transform-origin: left;}\n.smaller {font-size: 12.5px; display: inline-block; transform: scale(0.8); -webkit-transform: scale(0.8); transform-origin: left; -webkit-transform-origin: left;}\n.bt-text {font-size: 12px;margin: 1.5em 0 0 0}\n.bt-text p {margin: 0}\n</style>\n</head>\n<body>\n<div class=\"wrapper\">\n<header>\n<h2 class=\"title\">\nSEC considers new rules: short sellers are required to report related activities monthly\n</h2>\n<h4 class=\"meta\">\n<p class=\"head\">\n<strong class=\"h-name small\">华尔街见闻</strong><span class=\"h-time small\">2022-02-26 09:43</span>\n</p>\n</h4>\n</header>\n<article>\n<p><html><head></head><body>Author: Porridge Seven</p><p>On Friday, February 25th, Eastern Time, the U.S. Securities and Exchange Commission (SEC) said it was considering a new regulation, and some investor institutions may be required to report their short-selling-related activities to the SEC every month, thus making the SEC provide detailed short-selling data to the public for the first time, including summary data on short positions and daily short-selling data.</p><p>In a press release, SEC Chairman Gary Gensler said:</p><p>The SEC voted unanimously to propose rules and amendments that would expand the scope of short-selling-related data available to the investing public and regulators. I am pleased to support this proposal because, if adopted, it will strengthen transparency in an important area of our market that would benefit from greater visibility and oversight. The new rulemaking will apply to institutional managers who hold short positions of at least $10 million or equal to more than 2.5% of total outstanding shares, Gensler said.</p><p>It is important for the public and the Commission to learn more about this important market, particularly during times of stress or volatility. The proposed rules will help the Commission deal with future market events, striking a balance between transparent demand and price discovery processes. As early as 2005, the SEC established a regulation called Regulation SHO to restrict naked short selling. This regulation stipulates that investors must have sufficient reasons to ensure that they have the ability to hold the stocks to be shorted before the transaction is settled. Otherwise, it is necessary to cover the position, otherwise it will be Fail to Deliver. If the naked short seller is found to be suspected of short selling or attacking the stock price afterwards, it will be a crime.</p><p>\"Naked short selling\" refers to the investment method in which investors directly sell non-existent stocks in the market without borrowing stocks, and then buy back the stocks to obtain profits when the stock price falls further. Traders who engage in \"naked short selling\" only need to buy the stock before the delivery date, and the transaction will be successful. Since \"naked short selling\" sells non-existent stocks, the volume may be very large, so it will have a severe impact on the stock price.</p><p>Investors believe that short sellers manipulate the market, may be fraudulent and lack of public data on short selling transactions. The proposed new regulations try to make up for this problem by further enhancing market transparency.</p><p>By design, the new rule will increase the disclosure of so-called \"buy-cover\", a rule that short-selling critics may welcome as it will aim to further curb so-called \"naked short selling\". Following the outbreak of the global financial crisis in 2008, the Securities and Exchange Commission banned traders from using non-existent stocks to short shares of publicly traded companies.</p><p>Late last year, the SEC proposed a rule that would require brokerage firms and asset managers that lend securities to short sellers to report data on each loan to watchdogs such as the Financial Industry Regulatory Authority within 15 minutes of lending.</p><p>The SEC said it extended the public comment period on the rule in light of its latest proposed rule changes.</p><p></body></html></p>\n<div class=\"bt-text\">\n\n\n<p> source：<a href=\"https://wallstreetcn.com/articles/3652877\">华尔街见闻</a></p>\n\n\n</div>\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"https://static.tigerbbs.com/9b45ea8bb6e8a9c6428f1a279df367be","relate_stocks":{".DJI":"道琼斯"},"source_url":"https://wallstreetcn.com/articles/3652877","is_english":false,"share_image_url":"https://static.laohu8.com/cc96873d3d23ee6ac10685520df9c100","article_id":"1165042671","content_text":"作者：粥七美东时间2月25日周五，美国证券交易委员会SEC表示其正在考虑一项新规，一些投资者机构或将被要求每月向SEC报告他们与卖空相关的活动，从而使SEC首次向公众提供详细的卖空数据，包括额空头头寸的汇总数据以及每日卖空数据。美国证券交易委员会主席Gary Gensler在一份新闻稿中表示：SEC一致投票提议制定规则和修正案，扩大投资公众和监管机构可获得卖空相关数据的范围。我很高兴支持这项提案，因为如果被采纳，将加强我们市场中一个重要领域的透明度，而这一领域将从更大的可见度和监督中受益。Gensler表示，新的规则制定将适用于持有至少1000万美元空头头寸或相当于总流通股2.5%以上的机构经理。对公众和委员会来说，更多了解这个重要的市场是很重要的，特别是在压力或波动的时候。拟议的规则将有助于委员会处理未来的市场事件，在透明的需求和价格发现过程之间取得平衡。早在2005年SEC就设立名为Regulation SHO的条例限制裸卖空行为，该项条例规定投资者在进行股票卖空时必须要有充分理由确保自己有能力在交易结算前持有要卖空的股票否则就要补仓，不然就算违约Fail to Deliver，如果事后被发现裸卖空者有抛空或狙击股价的嫌疑，则算犯法。“裸卖空”是指投资者没有借入股票而直接在市场上卖出根本不存在的股票，在股价进一步下跌时再买回股票获得利润的投资手法。进行“裸卖空”的交易者只要在交割日期前买入股票，交易即获成功。由于“裸卖空”卖出的是不存在的股票，量可能非常大，因此会对股价造成剧烈冲击。投资者认为卖空者操纵市场、可能存在欺诈行为以及缺乏卖空交易公开数据的问题依然翠在。此次提议的新规试图通过进一步增强市场透明度以弥补这一问题。按照设计，新规定将增加所谓的“买入-回补”的披露，卖空批评人士可能会欢迎这一规定，因为它将旨在进一步遏制所谓的“裸卖空”。2008年全球金融危机爆发后，美国证券交易委员会禁止交易员利用不存在的股票做空上市公司的股票。去年年底，SEC提出一项规则，要求向卖空者出借证券的经纪公司和资产管理公司在出借后15分钟内向金融业监管局等监督机构报告每笔贷款的数据。SEC表示，鉴于其最新的规则修改建议，其延长了对该规则的公众评论期。","news_type":1,"symbols_score_info":{".DJI":0.9}},"isVote":1,"tweetType":1,"viewCount":2252,"commentLimit":10,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"symbols":[],"verified":2,"subType":0,"readableState":1,"langContent":"EN","currentLanguage":"EN","warmUpFlag":false,"orderFlag":false,"shareable":true,"causeOfNotShareable":"","featuresForAnalytics":[],"commentAndTweetFlag":false,"andRepostAutoSelectedFlag":false,"upFlag":false,"length":4,"xxTargetLangEnum":"ORIG"},"commentList":[],"hasMoreComment":false,"orderType":2}