In what situation would the de minimis exclusion result in the institutional investment manager not having to file a Form SH?
If the short position in the Form SH Security constitutes less than one-quarter of one per cent of that class of the issuer’s Form SH Securities issued and outstanding and the fair market value of the short position in the Form SH Security is less than $1,000,000 on every day of the reporting period, the manager need not file Form SH. If the manager fails to satisfy either prong of the de minimis exclusion on any day of a reporting period for any Form SH Security, the manager must file Form SH for that period with respect to that Form SH Security. Pre-Existing Short Positions should not be included for purposes of determining whether the de minimis exclusion applies. Shares Issued Threshold For purposes of determining whether the .25% threshold is met, a manager should divide the number of shares of the Form SH Security it sold short that day by the number of issued and outstanding shares of that class of Form SH Security.
Related Questions
- Once a Form SH filing is required, may an institutional investment manager take advantage of the de minimis exclusion for purposes of entering data into the specified columns?
- Our firm registered as an investment adviser after December 7, 1998, and we have not previously filed the form. Do we have to file the form by the June 7, 1999 deadline?
- Are foreign institutional investment managers required to file Form 13F?
