A push is on for the Securities and Exchange Commission to shorten the deadline for large, institutional investors to disclose their holdings from 45 days after the end of each quarter to just two.
A petition for rulemaking in support of that change was submitted on Feb. 1 to the SEC by NYSE Euronext, the Society of Corporate Secretaries and Governance Professionals, and the National Investor Relations Institute. Currently, every institutional investment manager overseeing at least $100 million in assets on the last day of any month must report those holdings in a Form 13F filing with the SEC within 45 days of the end of that current quarter. The petitioners request that the deadline, “which has stood for over 30 years despite massive technological advances in recordkeeping and reporting systems,” be shortened to two business days.
