At the request of FIF members, FIF is creating a Working Group to focus on short sale interpretive and operational questions and potential enhancements to Regulation SHO. If you are interested in joining this new group, please email us at fifinfo@fif.com and we will add the subscription to your account.

During October 2018 FIF members presented recommendations to the SEC staff for the modernization of Rule 605. These recommendations, which were developed through the FIF Rule 605 Working Group, were focused on updating Rule 605 to reflect market changes since the adoption of Rule 605 in 2000.  More recently, various FIF members have requested that FIF reconvene the Rule 605 Working Group to review and update these recommendations to re-present to the SEC staff during 2021. FIF has scheduled an initial call for this Working Group for February 25 at 11 am ET.

The series will be multiple panels for FIF Members that will address the implementation considerations of the 898 page Rule. The panels are moderated by Tom Jordan, FIF Advisory Chair. The kickoff panel on February 1st was the Rule Overview and featured Wayne Aaron of the Vedder Price law firm and Matt Billings of Two Sigma. The second webinar took place on February 8th and featured John Ramsay of IEX,  Rich Steiner of RBC and Rob Mohan of Wellington. The next panel, scheduled for February 22 at 4pm ET, will focus on Governance & Pricing. Further information about this webinar will be distributed later this week.   

• Back Office Committee. On February 16, Professor James Angel of the Georgetown McDonough School of Business will discuss his recommended changes to stock lending, buy-in, short sale reporting and settlement rules in response to the recent trading activity in GameStop.
• Front Office Committee. On February 23, Mark Schaedel of Vondelpark Capital will discuss recent efforts to introduce a consolidated tape in Europe.
• Tax Information Reporting Working Group. On February 23, Andrew Bernknopf, Partner at the De Castro West law firm, will discuss Taxation of Partnership Equity Compensation and Carried Interests.
• Data and Technology Working Group. On February 24, Sean Spector of IEX will review an analysis of the performance impact of using minimum quantity on the IEX exchange.

• Back Office Committee. On February 16, Professor James Angel of the Georgetown McDonough School of Business will discuss his recommended changes to stock lending, buy-in and settlement rules in response to the recent trading activity in GameStop.
• Tax Information Reporting Working Group. On February 23, Andrew Bernknopf, Partner at the De Castro West law firm, will discuss Taxation of Partnership Equity Compensation and Carried Interests.