SEC Large Trader Reporting Rule

Anne PlestedMany thanks to Jess Haberman in our New York office for this summary of the SEC Large Trader Reporting rule:

In July 2011 US Securities and Exchange (the SEC) Commissioners unanimously approved the Large Trader Reporting rule; the aim is to “… promptly and efficiently identify significant market participants and collect data on their trading activity so that we can reconstruct market events, conduct investigations, and bring enforcement actions as appropriate.” (SEC Chairman Shapiro)

Large traders were required to file with the SEC by 1st December 2011 and, by 30th April 2012, broker-dealers will have to be able to report on Large Trader activity and monitor for Unidentified Large Traders.

Click here for more detail on the Rule.

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