Articles10.2.25

Gauging SEC Short-Sale Rules' Future After 5th Circ. Remand

Analyzing the Fifth Circuit’s remand of SEC short-sale disclosure rules and potential next steps for the agency

Scott Budlong

Partner Scott Budlong wrote an expert analysis column, "Gauging SEC Short-Sale Rules' Future After 5th Circ. Remand," published in Law360. The article examines the Fifth Circuit's August 2025 remand of two SEC rules requiring disclosure of securities lending and short-sale activity and explores how the SEC may respond to the court's directive to analyze the rules' cumulative economic impact, among other topics.

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