(CNBC) Securities and Exchange Commission Chairman Gary Gensler said Wednesday that the regulator is eyeing tighter disclosure deadlines for hedge funds building sizable stakes in companies. The agency is considering changing the rules under which hedge funds disclose that they have acquired 5% of a public company’s stock, Gensler said during a virtual Q&A at the Exchequer Club in Washington, D.C..
The so-called Schedule 13-D filing is currently set at 10 days, which gives hedge funds more than a week to keep buying in secret.
