Yesterday, the Office of Information & Regulatory Affairs released the Spring 2021 Unified Agenda of Regulatory and Deregulatory Actions. The report lists short- and long-term regulatory actions that administrative agencies plan to take.
I love Friday news dumps
The full agenda can be viewed here.
A bunch of good stuff here, but of course my eyes zoom in on 'Short Sale Disclosure Reform'
Ooooh, let's learn more about 929X(a)
I found a copy of section 929X(a)
This looks promising but would also like to see 929X (B) and 929X(C) as well...
From my reading, 929X would compel every institutional investment manager that affects a short
sale of a security to also file a report with the SEC in any way that the commission may determine.
'Fun fact', when the Dodd-Frank Act passed in 2010, an urgency existed to enact its many provisions. The original law called for some provisions to be enacted in 180 days.
11 years later, 11 provisions (56/67) have yet to be implemented. I wish I could go 10+ years ignoring ~18% of my job...
I, like I bet many others here, plan on digging into the rest of these proposed rules over the weekend. I am curious to see how this process plays out, but if there is a commenting period, I do believe based on Gary Gensler's previous testimony to Congress that he is hoping for the public (and apes) to respond, which I think makes sense.
If he can turn around and say people are banging his door down on this (with data on individual comments to back it up), he is in a position to operate with a 'public mandate'? Or, as the pessimist in me wants to think, is this all a dog and pony show and it is going to be another 10 years of waiting for the final 11 provisions to be implemented?
