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Politics : Politics for Pros- moderated -- Ignore unavailable to you. Want to Upgrade?

To: Bridge Player who wrote (95622)	1/17/2005 12:15:23 PM
From: KLP	Read Replies (1) \| Respond to of 793777

There is no requirement for advance reporting afaik. Thanks BP....Wonder what the rationale was for changing it in 2002? My eyes glazed over after reading about one-quarter of the link....but had to laugh when I saw this part of the Act.... >>>>>>>>>>VI. Paperwork Reduction Act We already have control numbers for Forms 3 (OMB Control No. 3235-0104), 4 (OMB Control No. 3235-0287) and 5 (OMB Control No. 3235-0362). These forms prescribe beneficial ownership information that a reporting person must disclose. Preparing and filing a report on any of these forms is a collection of information. Consistent with the will of Congress, the amendments conform the Section 16(a) rules and forms to the two-business day reporting deadline provided by the amendments to Section 16(a) enacted in Section 403 of the Act. Following the amendments adopted today, reporting persons will remain obligated to disclose the same information that they were previously required to report on these forms.66 Some transactions previously reported on Form 5 instead will be reported on Form 4. Because of the expedited filing deadline, reporting persons may file Forms 4 more frequently, but each form would report fewer transactions. We therefore believe that the overall information collection burden will remain approximately the same because the same transactions will remain reportable.<<<<<<<<<<<<