Azad Assadipour

Oct 17, 2023 | lexology.com | Kevin J. Campion |Andrew Blake |Katie Klaben |Eric Kauffman |Jorge Ortiz |Azad Assadipour

On October 13, 2023, the U.S. Securities and Exchange Commission (SEC or Commission), in a 3–2 vote along party lines, adopted new Rule 10c-1a1 (Final Rule) under the Securities Exchange Act of 1934 (Exchange Act).2 Rule 10c-1a will for the first time require persons entering securities loans (or their intermediary or reporting agent, where applicable) to report specific terms of the loan to a registered national securities association (RNSA) by the end of the day on which the loan is either...