On April 28, the SEC announced it had reopened the comment period for its proposed amendments to the Beneficial Ownership Forms, which require any investor who beneficially owns more than five percent of a covered class of equity securities to report such ownership by publicly filing either a Schedule 13D or a Schedule 13G.
The reopening of the comment period, which you can read more about here, was prompted by a memorandum prepared by the Division of Economic and Risk Analysis. The SEC believes that this document, which contains supplemental data and analysis about certain economic effects of the proposed amendments, could be informative and aid in further evaluating the amendments.
The public comment period will remain open until June 27, 2023, or until 30 days after the publication date in the Federal Register. During this time, the SEC encourages interested parties to provide comments on the staff memorandum, which they can do by visiting, Comments on Modernization of Beneficial Ownership Reporting. The SEC is specifically encouraging people to provide feedback on the data or methodology within memorandum analysis and comment on how these factors should inform consideration of the benefits and costs of the proposed amendments.
If you have any views on the proposed amendments, feel free to share them here. As always, our team is available to share insights, provide guidance, and answer any questions.