NASD Notice to Members 05-63 - September 2005

NASD Seeks Comment on Increasing the Frequency of Short Interest Reporting; Comment Period Expires November 29, 2005

Executive Summary

NASD is issuing this Notice to Members to solicit comments from members and other interested parties on proposed changes to Rule 3360, Short Interest Reporting. Currently, Rule 3360(a) requires members to maintain a record of total short positions in all customer and proprietary firm accounts in NASDAQ securities -and listed securities if not reported to another self-regulatory organization (SRO)-and requires members to report such information to NASD on a monthly basis. NASD is seeking comment on a proposed change to Rule 3360 that would require members to record and report total short position information to NASD twice per month. NASD believes that increasing the frequency of short interest reporting requirements will provide additional and more timely information related to short selling to investors and other interested parties.

 

Questions concerning this Notice may be directed to the Legal Section, Market Regulation at (240) 386-5126; or Office of General Counsel, Regulatory Policy and Oversight, at (202) 728-8071.

 

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The views, expressions, findings and opinions expressed in the comments on this Web page are solely those of the author(s) and FINRA accepts no responsibility for the content of the comments.


Comments By Date Received
Cognos Incorporated (PDF 33 KB) 10/27/2005
Wulff Hansen & Co. (PDF 47 KB) 11/15/2005