SEC Proposes Amendments to Form 13F Reporting Requirements

Summary

This First Analysis article discusses the Securities and Exchange Commission’s (SEC) recently proposed amendments (available here) to Rule 13f-1 (17 C.F.R. § 240.13f-1) of the U.S. Securities Exchange Act of 1934, as amended (the Exchange Act) and Form 13F (referenced in 17 C.F.R. § 249.325). The principal proposed changes would provide for raising the reporting threshold from $100 million to $3.5 billion and eliminating the so-called “omission threshold” for reporting on Form 13F of holdings of individual securities (measured by number of shares or value). According to the SEC, the increase in the threshold is intended to reflect the change in size and structure of the U.S. equities markets since 1975, when Congress adopted the reporting requirements.