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SEC Beneficial Ownership Rule

Requires the reporting on the beneficial ownership of more than 5% of a class of voting equity securities or else risk losing the eligibility to file. The rule is intended to give companies and markets visibility into the ownership of shares of public companies.

Rule Overview

Jurisdiction: United States

Regulator: SEC

Topic: Beneficial Ownership Disclosure

Overview
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A person who is directly or indirectly the beneficial owner of more than five percent of any equity security class must file a statement required by Schedule 13D with the SEC within five business days following an acquisition that leads to this level of ownership.

For brokers, dealers, banks, insurance companies, investment companies or advisers, etc., who acquire securities in the ordinary course of their business and without the intent of changing or influencing the control of the issuer is permitted to file the short-form statement on Schedule 13D.

Latest News More on SEA 1934 Rule 13(d)