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SEC RIN: 3235-AN01 Publication ID: Fall 2022 
Title: Loan or Borrowing of Securities 
Abstract:

The Division is considering recommending that the Commission adopt rules to further implement section 984(b) of the Dodd-Frank Act.  Section 984 of the Dodd-Frank Act provides the Commission with the authority to increase transparency, among other things, with respect to the loan or borrowing of securities.  It also mandates that the Commission promulgate rules designed to increase the transparency of information available to brokers, dealers, and investors.  The Commission proposed a rule to increase the transparency and efficiency of the securities lending market by requiring any person that loans a security on behalf of itself or another person to report the material terms of those securities lending transactions and related information regarding the securities the person has on loan and available to loan to a registered national securities association ("RNSA”).  The proposed rule would also require that the RNSA make available to the public certain information concerning each transaction and aggregate information on securities on loan and available to loan.

 
Agency: Securities and Exchange Commission(SEC)  Priority: Substantive, Nonsignificant 
RIN Status: Previously published in the Unified Agenda Agenda Stage of Rulemaking: Final Rule Stage 
Major: Undetermined  Unfunded Mandates: No 
CFR Citation: 17 CFR 240.10c-1   
Legal Authority: 15 U.S.C. 77c    15 U.S.C. 77d    15 U.S.C. 77g    15 U.S.C. 77j    15 U.S.C. 77s    15 U.S.C. 77z-2    15 U.S.C. 77z-3    15 U.S.C. 77eee    15 U.S.C. 77ggg    15 U.S.C. 77nnn    15 U.S.C. 77sss    15 U.S.C. 77ttt    15 U.S.C. 78c    15 U.S.C. 78c-3    15 U.S.C. 78c-5    15 U.S.C. 78d    15 U.S.C. 78e    15 U.S.C. 78f    15 U.S.C. 78g    15 U.S.C. 78i    15 U.S.C. 78j    15 U.S.C. 78j-1    15 U.S.C. 78k    15 U.S.C. 78k-1    15 U.S.C. 78l    15 U.S.C. 78m    15 U.S.C. 78n    15 U.S.C. 78n-1    15 U.S.C. 78o    15 U.S.C. 78o-4    15 U.S.C. 78o-10    15 U.S.C. 78p    15 U.S.C. 78q    15 U.S.C. 78q-1    15 U.S.C. 78s    15 U.S.C. 78u-5    78w    78x    78dd    78ll    78mm    15 U.S.C. 80a-20    15 U.S.C. 80a-23    15 U.S.C. 80a-29    15 U.S.C. 80a-37    15 U.S.C. 80b-3    15 U.S.C. 80b-4    15 U.S.C. 80b-11    15 U.S.C. 7201 et seq.    15 U.S.C. 7302    7 U.S.C. 2(c)(2)(E)    12 U.S.C. 5221(e)(3)    18 U.S.C. 1350    Pub. L. 111-203, 939A, 124 Stat.1376 (2010)    Pub. L. 112-106, sec. 503 and 602, 126 Stat. 326 (2012), unless otherwise noted    sec. 240.10c-1 also issued under 15 U.S.C. 78j(c), and Pub, L. 111-203, 984(b), 124 Stat. 1376 (2010)    ...   
Legal Deadline:  None
Timetable:
Action Date FR Cite
NPRM  12/08/2021  86 FR 69802   
NPRM Comment Period Reopened  03/02/2022  87 FR 11659   
NPRM Comment Period Reopened End  04/01/2022 
NPRM Comment Period End  04/11/2022 
Final Action  10/00/2023 
Regulatory Flexibility Analysis Required: Undetermined  Government Levels Affected: Undetermined 
Federalism: No 
Included in the Regulatory Plan: No 
RIN Data Printed in the FR: No 
Agency Contact:
Theresa Hajost
Special Counsel, Division of Trading and Markets
Securities and Exchange Commission
100 F Street NE,
Washington, DC 20549
Phone:202 551-5739
Email: hajostt@sec.gov