Amendments to Regulation SHO
Overview
The Securities and Exchange Commission ("Commission') is adopting amendments to Regulation SHO under the Securities Exchange Act of 1934 ("Exchange Act'). The amendments are intended to further reduce the number of persistent fails to deliver in certain equity securities by eliminating the options market maker exception to the close-out requirement of Regulation SHO. As a result of the amendments, fails to deliver in threshold securities that result from hedging activities by options market makers will no longer be excepted from Regulation SHO's close-out requirement. The Commission is also providing guidance regarding bona fide market making activities for purposes of the market maker exception to Regulation SHO's locate requirement.
Prior Actions
Proposed Rule (34-58107)
73 FR 40201
Proposed Rule (34-56213)
72 FR 45558
Resources
Details
October 17, 2008
73 FR 61690