SEC Extends Short-Selling and Stock-Loan Disclosure Deadlines to 2028, Pushing Asset Manager Compliance to January 2 and September 28

The SEC has again postponed the compliance timetable for short selling reporting and stock loan disclosures, citing public interest and investor protection. The updated deadlines place large asset managers under a January 2, 2028 deadline for short positions reporting, while stock lending disclosures are due by September 28, 2028, easing near-term regulatory pressure for market participants.

Originally, in October 2023, the regulator introduced rules requiring eligible asset managers to report short positions monthly, with pension funds, banks, and lenders of shares submitting reports the next trading day. The extensions are framed as balancing compliance discipline with market stability as oversight in traditional and crypto-linked markets evolves.

The August decision by the Fifth Circuit ordered a reassessment of the rules’ economic impact. Commissioner Allison Herren Lee cautioned that repeated extensions risk becoming a cover for shifting expectations, potentially undermining the rule of law as oversight frameworks tighten.