CISO Global Seeks SEC Clearance for Shareholder-Controlled Securities Lending Program

New updates have been reported about CISO Global.

CISO Global, Inc., a Nasdaq-listed cybersecurity provider, has asked the U.S. Securities and Exchange Commission for no-action relief to implement an Investor-Consent Share Loan Program that would require explicit shareholder approval before their shares can be used in securities lending. The move follows CISO’s review of late-2025 short-volume figures, reported fails-to-deliver, and discrepancies in shareholder records, which the company says underscore the need for more transparency and investor choice without alleging any misconduct by intermediaries.

The proposed framework, developed with pro bono support from the Investor Choice Advocates Network, would give beneficial owners the right to be informed and to opt in or out before their holdings are made available for lending that may facilitate short selling, and CISO is asking the SEC staff to confirm it will not recommend enforcement under Rule 17Ad-20 solely because the company adopts and discloses this consent-first approach. While management positions the initiative as aligned with shareholder protection, market transparency, and long-term investor relations, CISO cautions there is no assurance the SEC staff will grant the requested relief, that any response will be timely, or that the program can be fully implemented through existing intermediaries, highlighting regulatory and operational uncertainty that could influence future trading dynamics in its stock and, indirectly, its cost of capital.