Securities Law Prof Blog

Editor: Eric C. Chaffee
Univ. of Toledo College of Law

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Friday, July 29, 2011

SEC Adopts Rule Requiring Large Trader Reporting

The SEC unanimously adopted a new rule establishing large trader reporting requirements to enhance the agency’s ability to identify large market participants, collect information on their trading, and analyze their trading activity.  The new rule requires large traders to identify themselves to the SEC, which will then assign each trader a unique identification number. Large traders will provide this number to their broker-dealers, who will be required to maintain transaction records for each large trader and report that information to the SEC upon request.

The new rule has two primary components:

  • it requires large traders to register with the Commission through a new form, Form 13H.
  • it imposes recordkeeping, reporting, and limited monitoring requirements on certain registered broker-dealers through whom large traders execute their transactions.

The new rule will be effective 60 days after its publication in the Federal Register.

http://lawprofessors.typepad.com/securities/2011/07/sec-adopts-rule-requiring-large-trader-reporting-.html

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