Requiring More From Large Traders

Law360, New York (August 30, 2011, 12:55 PM EDT) -- On July 26, 2011, the U.S. Securities and Exchange Commission adopted new Rule 13h-1[1] under Section 13(h) of the Securities Exchange Act of 1934.[2] The rule imposes initial and ongoing filing obligations on “large traders” and subjects the required broker-dealers that service large traders to specified record-keeping, monitoring and reporting requirements.

The rule is meant to assist the SEC in its efforts to identify, and collect information on the trading activity of, the most significant participants in the U.S. securities markets. Large traders must identify themselves...
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