The Securities & Exchange Commission (SEC) is considering proposals to tighten the disclosure deadline for hedge funds that hold significant shares in companies, according to a report by Bloomberg.
The Securities & Exchange Commission (SEC) is considering proposals to tighten the disclosure deadline for hedge funds that hold significant shares in companies, according to a report by Bloomberg.
SEC Chairman Gary Gensler said in a virtual Q&A at the Exchequer Club in Washington, DC, that he was considering changing the current Schedule 13-D filing rules whereby a hedge fund must disclose when it has acquired a 5 per cent stake in a public company.
The deadline for filing is currently currently ten days after acquisition which allows hedge funds to continue their purchases in without disclosure for more than a week.