Short Sale Pilot Delayed
The SEC has delayed the short sale pilot, which was scheduled to begin January 3, 2005, to May 2, 2005. The delay is intended to allow the industry to work out systems changes necessary to track certain trades. "All other terms of the July 28, 2004 pilot order remain unchanged," said the SEC.
The compliance date for all other provisions of Reg. SHO remains January 3, 2005.