SEC Proposes Amendments to Regulation SHO

August 01, 2007

On August 7, 2007, the Securities and Exchange Commission (the "Commission" or "SEC") issued a release (the "Proposing Release"), proposing amendments to Regulation SHO under the Securities Exchange Act of 1934 to eliminate the "options market maker" exception to the "close out" requirement and to require broker-dealers marking a sale as "long" to document the present location of the securities being sold.

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