This document is intended to be a summary of the SEC Release No. 58591 on September 18, 2008. For the full SEC document, please go to the following link: http://www.sec.gov/rules/other/2008/34-58591.pdf . For the Edgar Form SH: http://www.sec.gov/about/forms/formsh.pdf
Who does this ruling pertain to?
- An institutional manager that exercises discretion on accounts with at least $100,000,000 in FMV of 13(f) securities
- An institutional manager that was required to file a form 13(f) for the quarter ended June 30, 2008
What will is required?
- Filing a new form – Form SH
When is filing required?
- 1st business day of every calendar week in which a short sale of a 13(f) stock was effective. The rule is effective as of 09/22 and the filing is due on 09/29. The rule terminates on 10/2 so unless it is extended the only filing due is on 09/29.
What is required on the form?
- Number and value for each security sold short of 13(f) securities
- Does not include short sale of options
- For each day of the week, the following information must be submitted:
- Name of Issuer
- CUSIP
- Short Position (Start of Day)
- Number of Securities Sold Short (Per Day)
- Value of Securities Sold Short (Per Day)
- Short Position (End of Day)
- Largest Intra-Day Short Position
- Time of Day of Largest Intra-Day Short Position
Do All Positions Need To Be Reported?
- Do not need to report position if the short position is less than 0.25% of issued 13(f) securities
- And, The FMV of the position is less than $1,000,000
