Dividend recovery in securities lending requires borrowers to reimburse dividends, and exchanges must update rules and report compliance. The SLB framework is amended to require the dividend amount on book closure/record date to be calculated and recovered from the borrower and passed to the lender. Exchanges must amend bye laws and rules, notify member brokers and clearing members, disseminate the change on their websites, and report implementation status in the Monthly Development Report; other prior SLB and short selling provisions remain applicable.
Cases where this provision is explicitly mentioned in the judgment/order text; may not be exhaustive. To view the complete list of cases mentioning this section, Click here.
Provisions expressly mentioned in the judgment/order text.
Dividend recovery in securities lending requires borrowers to reimburse dividends, and exchanges must update rules and report compliance.
The SLB framework is amended to require the dividend amount on book closure/record date to be calculated and recovered from the borrower and passed to the lender. Exchanges must amend bye laws and rules, notify member brokers and clearing members, disseminate the change on their websites, and report implementation status in the Monthly Development Report; other prior SLB and short selling provisions remain applicable.
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