South Dakota’s Uniform Securities Act of 2002

SIFMA provides comments to the South Dakota Securities Commission on South Dakota’s Uniform Securities Act of 2002. SIFMA shares its concerns about an initiative petition to amend the South Dakota Uniform Securities Act of 2002 by adding restrictions to national markets activity.  SIFMA believes the proposed amendment reaches beyond sales occurring within South Dakota and would apply to any broker-dealer who is registered in South Dakota.  In addition, SIFMA believes would essentially prohibit every broker-dealer who is registered in South Dakota from engaging in short selling.