SEC Re-Opens Comment Period on Amendments to Regulation SHO

 

 

[21012]

 

April 2, 2007

TO: SEC RULES MEMBERS No. 42-07
EQUITY MARKETS ADVISORY COMMITTEE No. 17-07
CLOSED-END INVESTMENT COMPANY MEMBERS No. 23-07
ETF ADVISORY COMMITTEE No. 15-07     RE: SEC RE-OPENS COMMENT PERIOD ON AMENDMENTS TO REGULATION SHO

 

The Securities and Exchange Commission has re-opened the comment period on certain of its proposed amendments to Regulation SHO. [1]  Specifically, in order to give the public additional time to consider recently released data related to the proposal,  [2] the SEC is asking for further public comment on eliminating the Regulation SHO grandfather provision and narrowing the options market maker exception. [3]  The comment period has been extended until April 30, 2007.

 

Heather L. Traeger
Assistant Counsel

endnotes

 [1] SEC Release No. 34-55520 (March 26, 2007), 72 FR 15079 (March 30, 2007).  The proposal can be found on the SEC’s website at http://www.sec.gov/rules/proposed/2007/34-55520.pdf.

 [2] Most significantly, the NASD has released data relating to certain provisions of the proposed amendments.  See SEC File No. S7-12-06, Comments of the National Association of Securities Dealers, Inc. (March 12, 2007).  The letter can be found on the SEC’s website at http://www.sec.gov/comments/s7-12-06/s71206-nasd031207.pdf.

 [3] SEC Release No. 34-54154 (July 14, 2006), 71 FR 41710 (July 21, 2006).  The proposal can be found on the SEC’s website at http://www.sec.gov/rules/proposed/2006/34-54154.pdf.