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SIFMA and SIFMA AMG on SEC Short Reporting Proposal

Summary

SIFMA and SIFMA AMG provided comments to the U.S. Securities and Exchange Commission’s (SEC) release on proposed Rule 13f-2 under the Securities Exchange Act of 1934 and associated Form SHO, as well as Rule 205 of Regulation SHO and amendments to the national market system plan governing the consolidated audit trail, all of which would significantly expand the reporting requirements applicable to short positions, short sales, and other related activity impacting short positions.

PDF

Submitted To

SEC

Submitted By

SIFMA and SIFMA AMG

Related Committee(s)

  • Asset Management

Date

26

April

2022

Excerpt

April 26, 2022

By Email

Vanessa A. Countryman
Secretary
U.S. Securities and Exchange Commission
100 F Street, N.E.
Washington, D.C. 205499–1090
[email protected]

Re: Release No. 34–94313; File No. S7–08–22 Short Position and Short Activity Reporting by Institutional Investment Managers

Ms. Countryman:

The Securities Industry and Financial Markets Association (“SIFMA”)1 and its Asset Management Group2 appreciates the opportunity to comment on the U.S. Securities and Exchange Commission’s (the “SEC” or “Commission”) release on proposed Rule 13f-2 (“Proposed Rule 13f-2”) under the Securities Exchange Act of 1934 (“Exchange Act”) and associated Form SHO (“Proposed Form SHO”), as well as Rule 205 of Regulation SHO (“Proposed Rule 205”) and amendments to the national market system plan (“NMS Plan”) governing the consolidated audit trail (“CAT”) (collectively, the “Proposed Rules”), all of which

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1 SIFMA is the leading trade association for broker-dealers, investment banks and asset managers operating in the U.S. and global capital markets. On behalf of our industry’s one million employees, we advocate on legislation, regulation and business policy affecting retail and institutional investors, equity and fixed income markets and related products and services. We serve as an industry coordinating body to promote fair and orderly markets, informed regulatory compliance, and efficient market operations and resiliency. We also provide a forum for industry policy and professional development. SIFMA, with offices in New York and Washington, D.C., is the U.S. regional member of the Global Financial Markets Association (GFMA). For more information, visit http://www.sifma.org.

2 SIFMA’s Asset Management Group (SIFMA AMG) brings the asset management community together to provide views on U.S. and global policy and to create industry best practices. SIFMA AMG’s members represent U.S. and global asset management firms whose combined assets under management exceed $45 trillion. The clients of SIFMA AMG member firms include, among others, tens of millions of individual investors, registered investment companies, endowments, public and private pension funds, UCITS and private funds such as hedge funds and private equity funds. For more information, visit http://www.sifma.org/amg.

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