On February 25, 2022, the SEC reopened the comment period for its proposed rule to require any person that loans a security on behalf of itself or another person (lenders) to report material terms of the securities lending transactions. In a separate release, the SEC issued a new proposed rule that would require institutional investment managers to report short sale related information to the SEC on a monthly basis (see Legal Update, SEC Proposes Short Sale Disclosure Rules). The SEC is reopening the comment period on its securities lending proposed rule to solicit comments on any potential effects that the SEC should consider regarding the short sale disclosure proposal.

The comment period will be open for 30 days following publication in the Federal Register.

For more information on the SEC's securities lending reporting proposal, see Legal Update, SEC Proposes Rule to Require Reporting of Securities Lending Transaction Terms.