SEC Extends Short-Sale Reporting Rules Until Aug. '09

Law360, New York (October 16, 2008, 12:00 AM EDT) -- Major investors must disclose their short positions to the U.S. Securities and Exchange Commission through Aug. 1, 2009, according to a final interim rule the agency issued Wednesday night that extends its previous temporary short-sale disclosure rule.

Under the new rule, managers who invest more than $100 million must disclose short sales at the end of each calendar week as the SEC continues to collect data about the sizes and changes of short sales in an effort to restore equilibrium to the financial markets.

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