By Svea Herbst-Bayliss
NEW YORK, July 10 (Reuters) - Activist investors in the U.S. must disclose the identities of their clients in regulatory filings, the Securities and Exchange Commission said in a move that may rattle hedge funds by requesting information they have long fought to keep secret.
The updated interpretations on 13D filings and proxy statements, issued by the main U.S. securities regulator on Thursday, had not been expected and have not been widely reported, according to lawyers who work on investor activism, who spoke on condition of anonymity to discuss the matter openly.
The SEC's new guidance on its Corporate Finance Interpretations clarifies how the agency views its rules on critical filings after a busy six months of activist campaigns.
The regulator did not respond to a request for comment on the changes or say what prompted it to issue the interpretation now.
NEW YORK, July 10 (Reuters) - Activist investors in the U.S. must disclose the identities of their clients in regulatory filings, the Securities and Exchange Commission said in a move that may rattle hedge funds by requesting information they have long fought to keep secret.
The updated interpretations on 13D filings and proxy statements, issued by the main U.S. securities regulator on Thursday, had not been expected and have not been widely reported, according to lawyers who work on investor activism, who spoke on condition of anonymity to discuss the matter openly.
The SEC's new guidance on its Corporate Finance Interpretations clarifies how the agency views its rules on critical filings after a busy six months of activist campaigns.
The regulator did not respond to a request for comment on the changes or say what prompted it to issue the interpretation now.
4 months ago
