SEC.gov grants exemption from Exchange Act Rule 13f-2 and Form SHO
The Securities and Exchange Commission announced today that it has granted a temporary exemption from Rule 13f-2 under the Securities Exchange Act. This exemption will provide relief to certain institutional investment managers in light of the ongoing challenges posed by the COVID-19 pandemic.
Rule 13f-2 requires institutional investment managers to report information on their holdings of equity securities. However, the SEC recognizes that the current situation has made it difficult for some managers to meet these reporting requirements. As a result, the Commission has decided to grant a temporary exemption to help alleviate some of these burdens.
The temporary exemption will apply to institutional investment managers that file Form 13F with the SEC. These managers will be exempt from the reporting requirements of Rule 13f-2 for the quarter ending March 31, 2020. This means that these managers will not be required to report their holdings of equity securities by the usual deadline.
The SEC’s decision to provide this temporary exemption comes as part of its broader efforts to assist market participants during the COVID-19 crisis. The Commission has been closely monitoring the situation and has taken a number of steps to help ensure orderly and efficient markets.
In addition to granting temporary exemptions, the SEC has also provided guidance to help market participants navigate the challenges posed by the pandemic. This guidance covers a wide range of issues, including disclosure obligations, trading practices, and regulatory filings.
Overall, the SEC’s actions reflect its commitment to supporting market participants and helping to maintain the integrity of the financial markets during this difficult time. By providing temporary relief from certain reporting requirements, the Commission is helping to ease the burdens faced by institutional investment managers and allowing them to focus on managing their portfolios in these challenging conditions.