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SEC Proposes Rulemaking to Require Short Sale Reporting

Client memorandum | March 2, 2022

On February 25, 2022, the Securities and Exchange Commission (the “SEC” or the “Commission”) issued a proposed rulemaking that, if enacted as proposed, will expand the current investment position reporting required under Section 13(f) of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), to include certain short sale positions. See Exchange Act Rel. No. 94313 (the “Proposing Release”). While the proposed rules would not require public disclosure of individualized, manager-specific short sale positions, they would require managers whose short positions exceed certain thresholds to report a significant amount of information to the SEC.

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