Sunday, 29 March 2015
Last updated 1 day ago
Feb 28 2011 | 11:54am ET
The Securities and Exchange Commission may soon put a serious damper on hedge fund activism.
The regulator may cut the number of days investors who buy up more than 5% of a publicly-traded company without passive intent have to disclose that purchase. Currently, activist investors have 10 days to file a Schedule 13D with the SEC, making public their holdings.
But the SEC believes that giving activists 10 full days "may be outdated," Michele Anderson, head of the agency's office of mergers and acquisitions, told MarketWatch.
"It has been in place for over 40 years now, and we have concerns that it may provide opportunities for investors to obtain a sizeable stake in the company before they are obliged to make any public disclosure," she said.
It is unclear how much the SEC would seek to cut the filing time to, but any reduction is expected to hurt activists and help the companies targeted by them. A smaller window would make it harder for hedge funds and others to acquire large stakes in companies, and give those targets precious extra time to mount a counterattack.
Mar 9 2015 | 6:35am ET
As more investors look to diversify, many are beginning to use retirement funds to invest in alternative assets such as private equity and real estate. Kelly Rodriques, CEO & President of PENSCO Trust Company, explains how companies can connect with those looking to use their retirement accounts in a different way. Read more…
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…