Regulatory Alerts2022-03-10 | 2022-03222Added
Modernization of Beneficial Ownership Reporting
The Securities and Exchange Commission proposes amendments to Regulation 13D-G to modernize beneficial ownership reporting by significantly shortening filing deadlines for Schedules 13D and 13G. The proposal also deems holders of certain cash-settled derivative securities as beneficial owners, clarifies group formation rules under the Exchange Act, and mandates the use of structured, machine-readable data for filings. These changes aim to reduce information asymmetries in the market and improve the operational efficacy of current disclosure requirements.
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