2024: All things SEC
A flurry of disclosures...
Welcome to the SEC knowledge bank where we will be constantly adding articles, insight, webinars and more throughout the year.
2024 is a big year for SEC changes with both the Modernisation of Beneficial Ownership Reporting (13D and 13G) and the Short Sale Disclosure Reforms (13f-2).
We're industry nerds when it comes to all things disclosure - so our solutions, experts and community are all well-placed to help you with anything you need to do or ask when it comes to SEC changes.
What's new, what's changed, and what's important?
The SEC headliner grabbers for this year are the 13f-2 short selling rule and Form SHO. It's all about bringing transparency to short reporting as required by the Dodd-Frank Act. The compliance date is 2 January 2025 and there's a lot to unpack, make judgement calls on and get ready for. Institutional investment managers will need to be clear when reporting obligations are triggered, make sure they meet the data requirements (including any new data points), be able to file based on average end-of-day positions over an entire month, be clear which securities are in scope and which aren't - even without an official list - and report on Form SHO. EDGAR also comes into play.
Compliance with most of the amendments for the Modernisation of Beneficial Ownership was on 5 February 2024. But, hold on, compliance with the accelerated Schedule 13G filing deadlines is on 30 September 2024 (and don't forget the new inclusion of derivatives securities) and the need for structured machine-readable data requirements for 13D and 13G is on 18 December 2024.
So there's a lot to learn, debate and get ready for.
The change and the challenges
What's going to be difficult for compliance officers? The implementation of US short-selling rules and Form SHO is pushing financial institutions to embrace automation. The SEC's message is clear: it's time for firms to not just understand and adjust to these changes, but to proactively reshape their compliance strategies.
We brought in the pros for this one
Our latest webinar on SEC regulatory changes had a staggering 500 people completely captivated. SEC, client, and in-house experts ran over some of the main points and fielded over 50 questions. Don't miss out on the action!
The changes come with burning questions. Good news is that we have answers
What is the definition of "material" for purposes of 13G amendments?
Are cash-settled derivatives a must-report for QIIs and passive investors on forms 13D&G?
For the new 13f-2 rule, will non-US shorts be included?
So, where exactly does FundApps fit into all of this?
The perfect data and spot-on submissions
With FundApps Shareholding Disclosure, you can effortlessly stay on top of regulations in over 100 jurisdictions related to beneficial ownership, short selling, and takeover panels. By automating the process, firms can easily manage growing disclosure volumes and remain adaptable to future compliance needs.
One-click short selling disclosure
Simplify the global short selling disclosure process with just one click. Whether you're handling 10 or 100 disclosures, navigating various regulators can be a headache - it's time-consuming and prone to errors. FundApps Filing Manager guides you on what, when, and where to disclose, with direct submission to regulators.
We have you covered
We are playing a vital role in preparing our entire community for these upcoming changes. From creating data specs to making the necessary, timely updates to our Shareholding Disclosure platform to enabling EDGAR short selling disclosure with just one click!
With over a decade of experience in this field, we not only have the expertise to help you become a LEADR in compliance monitoring and reporting but also ensure that the SEC changes have minimal impact on your operations and, most importantly, you can easily prove you are compliant.
All things SEC: The blogs
The new US short selling rules: what’s going to be difficult for compliance officers?
New US short selling rules bring challenges for compliance officers: expanded reporting, XML filings, issuer thresholds, and daily position tracking.
Why you should care about the latest SEC disclosure regulations
The latest SEC disclosure regulations have brought significant changes to beneficial ownership reporting and short sale disclosure rules.
SEC: Changes to Private Fund Reporting for US Investment Advisers
On 10 August 2022, the SEC voted 3-2 to propose amendments to Form PF (‘the Form’).
Changes to Section 13 & Short Sale Requirements | FundApps
Discover more about the new, proposed changes to Section 13 and the beneficial ownership and short-selling by the SEC from head of FundApps North America.
SPACs and what you need to disclose under Section 13 of the SEA
Special Purpose Acquisition Companies (SPACs) are on the rise, but SPAC data providers are not about to provide necessary SPAC reporting under Section 13 of the Securities ...
SEC Changes to Beneficial Ownership Reporting | FundApps
Read our guide for an overview of the proposed changes to Section 13G and Section 13D by the United States SEC, the first of their kind in more than 40 years.