UPDATED as of 12:00 p.m. - SEC Emergency Orders: Implications for Buyside and Sellside Firms

This FYI is an update of the FYI circulated by Morgan Lewis on Sunday, September 21, to reflect changes announced overnight by U.S. and foreign regulators. To ensure that our clients have the latest developments, we have described these changes in Q&As 1, 2, 4, 6, 7, 14, and 20 and below and have added two new Questions and Answers in 29 and 30. We have also described some of the changes under the amendments to the “SEC Order Banning Short Selling in Financial Stocks” and to the “SEC Order Requiring Institutional Money Managers to Report New Short Sales.”