SEC Proposes Monthly Short Sale Reporting and Aggregated Public Disclosure

SEC Proposes Monthly Short Sale Reporting and Aggregated Public Disclosure

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On February 25, 2022, the Securities and Exchange Commission (SEC) proposed Rule 13f-2 under the Securities Exchange Act of 1934 (the Exchange Act) and the corresponding Form SHO, which, if adopted, would require institutional investment managers with large short positions to file a confidential monthly report with the SEC detailing the manager’s month-end short positions in equity securities and certain related daily transaction activity. As set forth in the proposed rule, “[t]he Commission plans to publish only aggregated [and anonymized] data derived from information provided in Form SHO reports.” Managers would be required to report their positions and activity within 14 days after month end, and the SEC will report the aggregated data approximately 30 days after month end.

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