How RRS Makes SEC Filings Easy

The Regulatory Reporting System was originally built to handle the SEC disclosure requirements under Rule 13D and 13F for one of the largest mutual fund companies in the world. From its inception, RRS focused on the complexities associated with shareholding disclosure obligations in the U.S.; aggregating positions across the legal entity hierarchy, understanding and handling investment strategies and generating and populating the necessary filing forms. Today, RRS provides a seamless end-to-end workflow that manages and tracks U.S. disclosure obligations right to the point of submission to the EDGAR website. RRS generates submission-ready disclosure documents (Schedule 13D, Schedule 13G and Form 13F) as well as the required XML submission documents needed to support one-click submission through the EDGAR website. Thousands of SEC shareholding disclosure filings get generated and submitted directly to the EDGAR website by RRS clients every year, and we haven’t missed one yet.

RRS is the best way to ensure that you manage your U.S. SEC shareholding disclosure obligations accurately and timely.

US Shareholding Disclosures: Schedule 13D, Schedule 13G and Form 13F

There are three reporting requirements in the U.S. for the purpose of disclosing holdings; the Schedule 13D, Schedule 13G and Form 13F. The SEC requires financial institutions to submit shareholding disclosure report as follows:

  1. Schedule 13D: Disclosures are triggered when an investor acquires beneficial ownership of more than 5% of a class of voting equity securities. Additional disclosures are required any time there is a material change, including an increase or decrease of 1% or more of that class of voting securities.
  2. Schedule 13G: Under the Schedule 13G, reporting is required when the investor exceeds 5% as of year-end or 10% as of any month-end. In addition, such investors may elect to file a short-form Schedule 13G in lieu of the longer Schedule 13D. Qualified Institutional Investors, Exempt Investors and Passive Investors are eligible for relief in terms of the reporting frequency and the content of the disclosure form.
  3. Form 13F: Institutional investment managers that exercise investment discretion over $100 million in assets or more in 13F securities are required to file quarterly Form 13F reports. The 13F securities are those listed by the SEC on its Official List.
  4. Insiders: Additional reporting is required of 10% beneficial owners under Section 16. Such owners are required to disclose all trading activity in the security in question. RRS provides support for this requirement as well.

While the outline above provides a simple overview, the full requirements are detailed and complex. Without an automated solution, even the most knowledgeable compliance department can make errors that can amount to enforcement action by the SEC. Recent fines from the SEC for missed disclosures have reached into the hundreds of thousands of dollars. Beyond the monetary damage that can come with missing a filing, there is the reputational damage to the institution that can result as well.Whether you need help with US filings or broader global shareholding disclosure obligations, RRS can reduce the risk associated with manual processes while increasing productivity so that reporting obligations become almost effortless.Across the financial industry, institutions such as investment banks, insurance companies, asset management and hedge funds rely on the Regulatory Reporting System to ensure their timely and accurate response to their shareholding disclosure obligations.

Schedule 13D Form 13 F Schedule 13G
When to File must be filed within 10 days of becoming a 5% beneficial owner. Schedule 13D must then be updated promptly when changes occur. must be filed within 45 days of the end of each calendar quarter must be filed within 45 days of the end of each calendar year in which the qualified institutional investor exceeds the 5% threshold or within 10 days of the calendar month end in which the investor exceeds 10%. Amendments are required on an annual basis. Amendments are also required within 10 days after the end of a month in which beneficial ownership exceeds 10% and within 10 days after the end of a month when ownership increases or decreases by at least 5%.
Who to File With the issuer, the SEC, and the exchanges where the securities trade SEC SEC
How to File The SEC requires firms to have an EDGAR account and to electronically submit their shareholding disclosure documents via the EDGAR website.



While the outline above provides a simple overview, the full requirements are detailed and complex. Without an automated solution, even the most knowledgeable compliance department can make errors that can amount to enforcement action by the SEC. Recent fines from the SEC for missed disclosures have reached into the hundreds of thousands of dollars. Beyond the monetary damage that can come with missing a filing, there is the reputational damage to the institution that can result as well.

Whether you need help with U.S. filings or broader global shareholding disclosure obligations, RRS can reduce the risk associated with manual processes while increasing productivity so that reporting obligations become almost effortless.

Across the financial industry, institutions such as investment banks, insurance companies, asset management and hedge funds rely on the Regulatory Reporting System to ensure their timely and accurate response to their shareholding disclosure obligations.

To find out more about RRS, email or call +1.617.423.2699.