On August 24th, FINRA announced the SEC has approved amendments to FINRA Rule 4560 (Short-Interest Reporting). The amendments: (1) codify the requirement that member firms report only "gross" short interest existing in each proprietary and customer account (rather than net positions across accounts); (2) clarify that member firms' short-interest reports must reflect only those short positions that have settled or reached settlement date by the close of the FINRA-designated reporting settlement date; and (3) delete certain existing exceptions to the rule. FINRA Regulatory Notice 12-38.