There are *a lot* of loopholes in prior Reg SHO rules, I can dig up a link for you if you are interested in reading thru them. basically just google reg sho rules buy in and look at the sec links.
But, the recent changes, removal of grandfather clause, having to mark trades specifically as long or short sales, etc, I think reg sho will have more teeth now, but we'll have to wait and see.
you can look up otcbb/pink short interest on a month by month basis here: