Reopening Public Comment Period on Proposed SEC Amendments to Modernize Beneficial Ownership Reporting Rules

The Securities and Exchange Commission (SEC) has announced the reopening of its comment period for proposed amendments to current beneficial ownership reporting rules, in order to modernize the system. The public will be able to comment on the proposed changes until June 27, 2023, or 30 days after the publication of the reopening release in the Federal Register. Furthermore, the SEC's staff has released a memorandum detailing additional data and analysis regarding the potential economic effects of the proposed amendments. With the renewed comment period, interested parties are encouraged to analyze and provide input into the updated proposal from the SEC.