Series 24: 5.11. Regulation SHO

Taken from our Series 24 Online Guide

5.11. Regulation SHO

The SEC originally created Regulation SHO to deal with abusive practices involving short selling (hence the name). Today, Regulation SHO also includes the close-out rules for both short and long sales that take place on an exchange.

A long sale occurs when the seller owns the security that is delivered at settlement. This is the most traditional form of trading transaction. A short sale occurs when an investor believes the price of a stock is going to drop, and tries to profit from this by borrowing shares (usually from a broker-dealer for a fee)

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