SEC urges revamping schedule 13D timetable.

Daily News Record, March, 1984 by Robertshaw, Nicky

WASHINGTON (FNS) -- Members of the Securities and Exchange Commission approved a recommendation to close the "10-day window" between the acquisition of more than 5 per cent interest in a company and the required reporting of such action in a Schedule 13D, but disagreed as to the method.

While an advisory committee on tender offers had recommended requiring a company to file a Schedule 13D 48 hours prior to the acquisition of more than 5 per cent, the commissioners suggested requiring the filing the day after such an acquisition.

Under present law, the 10-day period presents "a substantial opportunity for abuse, as the acquiror 'dashes' to buy as many shares as possible between the time it crosses the 5 per cent threshold and the required filing date,"...

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