A three-judge panel of the Fifth Circuit Court of Appeals remanded the SEC’s short sale disclosure and securities lending reporting final rules, without vacatur, for further economic analysis (National Association of Private Fund Managers v. SEC¸ 2025 WL 2434051 (5th Cir. Aug. 25, 2025).
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Fifth Circuit Remands Short Sale Disclosure and Securities Lending Rules to SEC for Further Economic Analysis
