Form 3 Joins the Federal Reserve Paperwork Club
Published Date: 6/22/2026
Notice
Summary
The SEC is asking to keep using Form 3, which insiders fill out to report when they own more than 10% of a company’s stock. They want to extend approval for this form and make it a 'common form' so other agencies, like the Federal Reserve, can use it too. This won’t cost extra money but helps keep insider trading info clear and up to date.
Analyzed Economic Effects
2 provisions identified: 1 benefits, 1 costs, 0 mixed.
Insiders Must File Form 3
If you are a reporting person (someone who owns more than 10% of a company’s equity, or is a director or officer), you must file Form 3 to disclose your ownership. The SEC estimates Form 3 is filed once per year by about 15,371 respondents, takes about 0.5 hours per response (7,686 hours total annually), and has an estimated $0 annual cost burden.
Insider Filings Are Public on EDGAR
Form 3 filings are publicly available on the SEC’s EDGAR system, so ownership information filed by reporting persons is accessible to the public. This improves transparency about insiders’ equity holdings and helps keep insider trading information clear and up to date.
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