SEC Accelerates Filing Deadlines for Beneficial Ownership Reports by 5% Shareholders, and Further Amends and Guides Reporting Standards
About Regulation 13D-GRegulation 13D-G requires 5% Owners of Section 12 registered securities to file beneficial ownership reports with the SEC on Schedule 13D or Schedule 13G. Accelerated Filing DeadlinesOnce effective, the amendments will accelerate the filing deadlines for many Schedule 13D and 13G filings, as well as the filing deadlines and triggers for many amendments to Schedule 13D and 13G. Clarify the treatment of acquisitions by members of a “group” that occur on the same day the “group” is created. Require that Schedules 13D and 13G be filed using a machine readable, XML-based language that will be specific to 13D/G. The policy objectives ordinarily served by Schedule 13D or Schedule 13G filings would not be advanced by requiring disclosure that reports this or similar types of shareholder communications.
Source: Wall Street Journal October 24, 2023 17:58 UTC
