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B. G., Opalesque Geneva:

The Securities and Exchange Commission on Friday adopted the final rule that will provide greater transparency to investors and other market participants by increasing the public availability of short sale-related data.

"In the wake of the 2008 financial crisis, Congress directed the SEC to enhance the transparency of short selling of equity securities," said SEC Chair Gary Gensler. This "adoption will promote greater transparency about short selling both to regulators and the public. This rule addresses Congress's mandate and improves upon existing sources of short sale-related data in the equity markets. Given past market events, it's important for the Commission and the public to know more about short sale activity in the equity markets, especially in times of stress or volatility."

Rule 13f-2 will require institutional investment managers that meet or exceed certain thresholds to report on Form SHO specified short position data and short activity data for equity securities.

The Commission will aggregate the resulting data by security, thereby maintaining the confidentiality of the reporting managers, and publicly disseminate the aggregated data via EDGAR on a delayed basis. This new data will supplement the short sale data that is currently publicly available.

Softening of rule proposed initially

Greater disclosures of short-selling ......................

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