SEC eyes tighter disclosure deadlines for hedge funds building big stakes in companies

Gary Gensler, chairman of the U.S. Securities and Exchange Commission , speaks during a Senate Banking, Housing and Urban Affairs Committee hearing in Washington, D.C., U.S., on Tuesday, Sept. 14, 2021.said Wednesday that the regulator is eyeing tighter disclosure deadlines for hedge funds building sizable stakes in companies.

The so-called Schedule 13-D filing is currently set at 10 days, which gives hedge funds more than a week to keep buying in secret. "Right now, if you've crossed the 5% threshold on day one, and you have 10 days to file, that activist might in that period of time, just go up from five to 6% or they might go from five to 15% but there's nine days that the selling shareholders in the public don't know that information," Gensler said.

Singapore Singapore Latest News, Singapore Singapore Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Intel is already active in the bitcoin mining chip business, filing showsBitcoin mining company Griid quietly made a significant disclosure last month: a deal with tech conglomerate Intel to provide it with hardware. It is great ✨🤩 SHIBA__GIVEAWAY SHIBA INU distribution. 100x is a project I expect, so what do you think a project should do? Must have wallet app DexiWallet☑️ Must have game app DxgGameEmporium☑️ Must Have Dex app DexiHunter(coming soon) Must be Nft marketing ☑️ dxg DexiKnights dexioprotocol $DEXI dexioprotocol
Source: TheBlock__ - 🏆 464. / 53 Read more »