Goldman Sachs expects the U.S. Securities and Exchange Commission to withdraw its proposal to boost the minimum asset threshold for funds that are required to file 13F filings after the vast majority of comments submitted to the SEC regarding the proposal opposed the changes.
As it currently stands, institutional investment firms with assets under management of $100M are required to disclose their equity holdings in a 13F filing within 45 days of the end of each calendar quarter.
The proposal would have lifted the minimum asset threshold to $3.5B. Goldman estimates that the number of hedge funds required to disclose their long positions in stocks would be cut by 89% if the rule is adopted.
One of the SEC's five commissioners, the chair of the House of Representatives Financial Services Committee, the CFA Institute, the Business Roundtable, the Investment Company Institute, the NYSE, and Nasdaq, "along with many companies" submitted letters opposing the change.
