SEC Seeking Public Comments On:

Registration of Swap Dealers and Swap Participants

Prohibitions and Restrictions on Proprietary Trading

Conflicts of Interest in ABS Transactions

Review of Existing Regulations

Use of Derivatives by Mutual Funds

Asset-Backed Issuers and Mortgage-Related Pools Under '40 Act

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SEC Enforcement Actions Related to the Financial Crisis

Seeking Small Business Input

The State of the Municipal Securities Markets

Post-Madoff Reforms

Insider Trading

Spotlight on Short Sales

Note: This page has been archived and is no longer being updated. It may include obsolete or out-of-date information.

Short selling is generally defined as the sale of securities that an investor does not own or has borrowed. The SEC has approved a number of rules and taken other actions pertaining to short selling to promote market stability, preserve investor confidence, and increase short sale transparency.

News

SEC Approves Short Selling Restrictions
The SEC recently adopted an alternative uptick rule that places certain restrictions on short selling when a stock is experiencing significant downward pressure. More

• SEC Takes Steps to Curtail Abusive Short Sales and Increase Market Transparency

Reports, Studies
and Data

• Fails to Deliver Data
• Impact of Recent SHO Rule Changes on Fails to Deliver (April 25, 2011)
• Impact of Recent SHO Rule Changes on Fails to Deliver (Nov. 4, 2009)
• Analysis of Short Sale Price Test Using Intraday Quote and Trade Data
• Analysis of Short Selling Activity During Early Sept. 2008
• Analysis of Short Sale Price Restrictions Under Regulation SHO Pilot Program
• Self-Regulatory Organizations’ Short Sale Data

SEC Final Rulemakings

• Final Rule: Amendments to Regulation SHO (February 26, 2010)
• Final Rule: Amendments to Regulation SHO (July 27, 2009)
• Final Rule: Amendments to Regulation SHO (October 14, 2008)
• Final Rule: Amendments to Regulation SHO (October 14, 2008)
• Final Rule: Amendments to Regulation SHO (August 7, 2007)
• Final Rule: Amendments to Regulation M (August 6, 2007)
• Final Rule: Amendments to Regulation SHO and Rule 10a-1 (June 28, 2007)
• Final Rule: Short Sales (July 28, 2004)

SEC Proposed Rulemakings

Other Information

• No-Action Letters
• Small Entity Compliance Guides:
  • Short Sale Price Test Restrictions
  • Amendment to Regulation SHO to Adopt Rule 204
  • Amendment to Eliminate the Options Market Maker Exception
  • Amendments to Exchange Act Rules 203(b)(3) and 200(e)
  • Adoption of Naked Short Selling Antifraud Rule
  • Regulation M: Short Selling in Connection with a Public Offering
• ARCHIVE of SEC Actions and Information on Short Selling

Modified: 07/15/2019