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Court sends SEC short-selling rules back for review

A trader in front of multiple trading screens.
Photo: Michael M. Santiago/Getty Images

An appeals court upheld the SEC’s authority to tighten oversight of short-selling, but ordered the regulator to re-do its cost–benefit sums.

A US appeals court gave hedge funds a partial victory in their challenge to the SEC, requiring the agency to reassess the economic impact of its Biden-era short-selling disclosure rules.

The judges upheld the SEC’s authority to regulate and rejected claims that investor positions would be exposed, but faulted the

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