General Counsel
Tw Li

June 09, 2021

The Lowdown on Shorts

FINRA Seeks Comment on Expansion of Short Interest Reporting Requirements

Steven Lofchie

Commentary by Steven Lofchie

FINRA requested comments on (i) potential changes to its short interest reporting requirements, (ii) a new rule that would require clearing agency participants to report information on allocations to correspondent firms of fail-to-deliver positions and (iii) additional requirements concerning short sale activity.

CFTC Subcommittee's Recommendation Paves Way for Term SOFR

The CFTC's Interest Rate Benchmark Reform Subcommittee recommended to the Market Risk Advisory Committee "that on July 26, 2021 and thereafter, interdealer brokers replace trading of LIBOR linear swaps with trading of SOFR [Secured Overnight Financing Rate] linear swaps."

SEC Chair Gary Gensler Solicits Nominations for PCAOB Seats

SEC Chair Gary Gensler solicited nominations for all five of the seats on the Public Company Accounting Oversight Board.

Firm Settles FINRA Charges for OATS and OTCRF Reporting Failures

A firm settled FINRA charges for failing to submit accurate trade information to the Order Audit Trail System and the Over-the-Counter Reporting Facility.

Cadwalader Financial Services Group Attorneys Recognized in Chambers USA 2021

Cadwalader Financial Services Group Attorneys Recognized in Chambers USA 2021

Attorneys from across Cadwalader's Financial Services Group were recognized in Chambers USA 2021.