The SEC has proposed to amend the complex beneficial ownership reporting rules. In the press release announcing the changes in beneficial ownership reporting
[This post revises and updates my earlier post primarily to reflect the contents of the proposing release.] - The SEC has proposed to amend the complex beneficial.
Yesterday, without first holding an open meeting, the SEC posted proposals related to changes in beneficial ownership reporting and changes to the whistleblower program. In the press.
<p><span>This proposal is characterized as modernization, but it fails to contend fully with the realities of today’s markets or the balance embodied in Section 13(d) of the Exchange Act. The proposed amendments acknowledge some of the challenges, but do not fully grapple with or resolve them in a consistent manner. Accordingly, I do not believe the proposed amendments are prudent and respectfully dissent. </span></p>
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