Provable Markets Position Statement on SEC Rule 10c-1a

Provable Markets Position Statement on SEC Rule 10c-1a

On 13 October 2023, the Securities and Exchange Commission (SEC) adopted the Rule 10c-1a under the Securities Exchange Act of 1934. The final Rule, which was first published for commentary on 18 November 2021, will require reporting covered securities loans to a Registered National Securities Association (RNSA). The new rule furthermore requires that the RNSA make certain information it receives available to the public, including daily information pertaining to the aggregate transaction activity and distribution of loan rates for each reportable security, and delayed data on volumes. The Financial Industry Regulatory Authority (FINRA) is currently the only RNSA.