Small business and shareholders need-to-know and news-to-watch..
Excerpt………we believe that if the SEC fails to modernize the Schedule 13D rules, this will continue to permit investors (such as activist hedge funds) with short-term perspectives to gain an unfair advantage to the detriment of long-term investors and, ultimately, to the detriment of the United States’ ability to continue to compete effectively in the global economy. Public companies need the ability to invest in the long term and deploy capital without facing undue pressure from short-term focused investors. Many of the recent changes to the proxy rules have provided additional tools to these investors; shortening the 10-day window and modernizing the definition of beneficial ownership would be a step towards leveling the playing field
Read full article………via Section 13(d) Reporting Requirements Need Updating — The Harvard Law School Forum on Corporate Governance and Financial Regulation.
