In light of its announcement last week that UMIR amendments will soon result in the repeal of pricing restrictions on short sales, IIROC has also issued proposed guidance on short sale and short-marking exempt order designations. Specifically, the proposed guidance is intended to assist in the correct use of the designations. An earlier version of the guidance was initially released last year.
IIROC expects to issue a final version of the guidance in advance of the date on which the amendments to UMIR are scheduled to take effect. IIROC is accepting comments on the proposed guidance until May 2. For more information, see IIROC Notice 12-0079.
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