On October 13, 2023, the U.S. Securities and Exchange Commission (the “SEC”) adopted two final rules designed to promote greater transparency around securities lending and short selling activities to both regulators and the public. This alert relates to Rule 10c-1a2 (the “Rule”), which requires covered persons to report specific terms of their securities lending transactions to a registered national securities association (“RNSA”). The Financial Industry Regulatory Authority (“FINRA”) is currently the only RNSA.
