# 2025-22143: Stock Exchange Tweaks Short-Selling Rules for Market Makers

2025-22143, Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Compliance Rule Regarding the National Market System Plan Governing the Consolidated Audit Trail To Be Consistent With the Bona Fide Market Maker Exception Under Regulation SHO, is a Federal Register notice from Securities and Exchange Commission published 2025-12-08, effective 2025-11-24 (as of 2026-06-08).

- Canonical: https://policyrisk.com/federal-register/2025-22143
- As of: 2026-06-08
- Plain-text twin of the page above; the HTML and this file carry the same facts.

## Facts
- Document number: 2025-22143
- Title: Self-Regulatory Organizations; Investors Exchange LLC; Notice of Filing and Immediate Effectiveness of Proposed Rule Change To Amend the Exchange's Compliance Rule Regarding the National Market System Plan Governing the Consolidated Audit Trail To Be Consistent With the Bona Fide Market Maker Exception Under Regulation SHO
- Type: Notice
- Agencies: Securities and Exchange Commission
- Citation: 90 FR 56804
- Published: 2025-12-08
- Effective: 2025-11-24
- Comments close: not stated
- Significant: no
- Touches household money: no
- Regulation identifier numbers: none
- Last updated: 2026-06-08

## In one line

Stock Exchange Tweaks Short-Selling Rules for Market Makers

## Summary

Investors Exchange LLC (IEX) is updating its rules to match new reporting requirements about special short sales made by market makers. This change affects broker-dealers who must now report if a short sale qualifies for a special exception under Regulation SHO. The update is effective immediately and helps keep trading records clear and accurate without extra costs.

## Effects PRIA read

No economic effects identified for this document.

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## Sources
- [2025-22143 on federalregister.gov](https://www.federalregister.gov/documents/2025/12/08/2025-22143/self-regulatory-organizations-investors-exchange-llc-notice-of-filing-and-immediate-effectiveness-of)
- [2025-22143 as published (PDF)](https://www.govinfo.gov/content/pkg/FR-2025-12-08/pdf/2025-22143.pdf)

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- [All Federal Register documents](https://policyrisk.com/federal-register)

Source: PRIA, https://policyrisk.com/federal-register/2025-22143 (as of 2026-06-08).