Final Rule

Short Selling in Connection With a Public Offering

Public Comments

Overview

The Securities and Exchange Commission ("Commission') is adopting amendments to Regulation M to further safeguard the integrity of the capital raising process and protect issuers from manipulative activity that can reduce issuer's offering proceeds and dilute security holder value. The amendments eliminate the covering element of the former rule.

Prior Actions

Last Reviewed or Updated: May 23, 2025