SEC reopens comment period on beneficial ownership proposal
By 
Adrianne Appel2023-05-01T19:05:00
The Securities and Exchange Commission (SEC) on Friday reopened the comment period on proposed changes to “modernize” its beneficial ownership rule.
The agency said the new deadline for comments will be through at least June 27 and is intended to give the public time to review a newly released memorandum by the SEC’s Division of Economic and Risk Analysis on the potential economic impact of the proposed rule changes.
The SEC’s proposal, released in February 2022, would expand the rule to include certain types of derivative securities and shorten the filing deadline for beneficial ownership from 10 days to five days after a new ownership party crosses the 5 percent threshold. It also would require amendments related to beneficial ownership be filed within one business day.
Related articles
-
News BriefSEC adopts shorter reporting deadlines for beneficial ownership
The Securities and Exchange Commission finalized its rule proposal to cut in half the timeline allowed for market participants to file initial beneficial ownership information with the agency.
-
News BriefSEC spring 2023 regulatory agenda: 37 rules in final stage
The rest of the year is shaping up to be busy at the Securities and Exchange Commission, where final rules regarding climate-related disclosures, enhanced cybersecurity risk governance, and more are all on the near-term agenda.
-
News BriefSEC proposal seeks risk stability for clearing agencies
The Securities and Exchange Commission proposed a package of rule changes designed to enhance the risk management responsibilities and resilience of covered clearing agencies.
More from Regulatory Policy
-
ArticleTrump takes aim at state AI laws, promises federal action on AI legislation
President Donald Trump has issued an executive order aimed at dismantling the artificial intelligence (AI) laws of California, Colorado and three other states with comprehensive laws.
-
ArticleSFO sharpens framework for judging compliance programs in bribery and fraud cases
The U.K. Serious Fraud Office (SFO) has updated its guidance about how it evaluates corporate compliance programs when considering whether to prosecute or offer leniency to companies that have breached bribery and corruption laws.
-
ArticleFINRA annual regulatory report offers AI guidance, points to significant risks
Financial firms seeking guidance on AI, the threat of cyberattacks, market manipulation, or fraud targeting senior clients can turn to annual guidance issued by the Financial Industry Regulatory Authority.