SEC Looks at Long Sale Requirements, Julian Rainero Interviewed
Compliance ReporterJune 25, 2007
In Compliance Reporter's article "SEC Looks at Long Sale," Julian Rainero, partner at Bracewell & Giuliani, said that if the proposed changes to Rule 200 under SHO requiring broker/dealers marking a sale "long" are adopted, then that would require much lengthier communications between portfolio manager and the money manager's own traders. Money managers would have to tell their buy-side traders the accounts they allocate the sales to and must communicate with the custodians of each account to determine the location of the securities.