On 5 September 2025, the SEC Chairman, Paul Atkins issued a statement in response to the Fifth Circuit Court's decision issued in August on the 13f-2 short selling and securities lending rules.
Background
- The Court did not vacate the rules;
- The Court held that the SEC had not properly considered their cumulative economic impact; and
- remanded them to allow the SEC to consider and quantify the cumulative economic impact of the rules.
Atkins has asked SEC staff to evaluate the rules in light of the opinion and make recommendations for appropriate SEC action, including potential changes to the rules and adjustments to the related compliance dates.
