ATR Leads Coalition Letter Opposed to Short Sale Transparency and Market Fairness Act

ATR today led a coalition of conservative organizations in opposition to H.R. 4618, the Short Sale Transparency and Market Fairness Act. This legislation will impose unprecedented and unnecessary government overreach in financial markets that would harm retirees and the broader U.S. economy.

If enacted into law, H.R. 4618 would expand reporting mandates under Section 13(f) of the Securities Exchange Act to require monthly reporting of investments held by investors and asset managers, including derivatives, security-based swaps, and other financial instruments that provide immense value to millions of Americans, including through public pensions and charities. The bill would sharply increase the frequency of filings from quarterly to monthly, while reducing the time to prepare filings from 45 days after the end of a quarter to 10 days after the end of the month.

Instead of meddling in the markets with unprecedented, unnecessary, and harmful mandates, Congress should work to reduce regulatory burdens on investors, retirees, and pensioners.

The full letter can be found here.