BOATS UNDER 12 METERS (39.4')
Powerboats-Separate or combination red and green sidelights, 112.5°, visible 1 n.m., placed above hull at least 1 meter (3.3') below masthead light. Masthead: white, 225°, visible 2 n.m., at least 1 meter above side lights. White stern light, 135°, visible 2 n.m. OR, one all-round (360°) white light (should also have sidelights).
Sounds like you can do it either way. I have a 360° light on a rather long post on the stern rather than the type that is mounted midship like I see on a lot of boats. I understand what you mean about the glare the midship mounted lights cause, they seem like a huge distraction to the driver.