•  
• Tweet
•  
•        Print
•  
•         Track Keywords
•  
• 

B. G., Opalesque Geneva:

The Securities and Exchange Commission (SEC) said on Friday that it had proposed to amend Form 13F - for the first time in more than 40 years. The proposal will update the reporting threshold (currently at $100m) for institutional investment managers and make other changes to keep up with the times. The changes are also meant to reduce unnecessary burdens on small managers.

Raising the reporting threshold to $3.5 billion

In 1978, when Form 13F was adopted, the threshold for filing the form was set at $100 million. Since then, says the SEC, the overall value of U.S. public corporate equities has grown over 30 times (from $1.1 trillion to $35.6 trillion), and the relative significance of managing $100 m has declined considerably. The proposal would raise the reporting threshold to $3.5 billion. In addition, the Commission has added other data collection tools, including N-PORT.

Under the proposed amendments, the aggregate value of section 13(f) securities reported by managers would represent approximately 75% of the U.S. equities market as a whole, as compared with 40% in 1981, the earliest year for which Form 13F data is available.

The proposed adjusted threshold would provide relief to smaller managers who are now subject to Form 13F reporting while retaining data on over 90% of the dollar value of the securities currently reported.

Other changes

The proposal also would direct the staff to review the ......................

To view our full article Click here