Section 929R – Beneficial Ownership and Short-Swing Profit Reporting

 

SEC. 929R. BENEFICIAL OWNERSHIP AND SHORT-SWING PROFIT REPORTING.

(a) Beneficial Ownership Reporting.--Section 13 of the Securities Exchange Act of 1934 (15 U.S.C. 78m) is amended--

(1) in subsection (d)(1)--

(A) by inserting after ``within ten days after such acquisition'' the following: ``or within such shorter time as the Commission may establish by rule''; and
(B) by striking ``send to the issuer of the security at its principal executive office, by registered or certified mail, send to each exchange where the security is traded, and'';

(2) in subsection (d)(2)--

(A) by striking ``in the statements to the issuer and the exchange, and''; and
(B) by striking ``shall be transmitted to the issuer and the exchange and'';

(3) in subsection (g)(1), by striking ``shall send to the issuer of the security and''; and
(4) in subsection (g)(2)--

(A) by striking ``sent to the issuer and''; and
(B) by striking ``shall be transmitted to the issuer and''.

(b) Short-swing Profit Reporting.--Section 16(a) of the Securities Exchange Act of 1934 (15 U.S.C. 78p(a)) is amended--

(1) in paragraph (1), by striking ``(and, if such security
is registered on a national securities exchange, also with the exchange)''; and
(2) in paragraph (2)(B), by inserting after ``officer'' the following: ``, or within such shorter time as the Commission may establish by rule''.