How Large Trader Rules Apply To Private Equity Advisers
October 3, 2011, 7:36 PM EDT
Law360, New York (October 3, 2011, 7:36 PM EDT) -- The U.S. Securities and Exchange Commission recently adopted Rule 13h-1 (the “Rule”) under the Securities Exchange Act of 1934 with respect to large trader registration. The Rule requires persons that qualify as a “large trader” (as defined below) to file Form 13H with the SEC to receive a large trader identification number (a “LTID”).
Large traders must identify themselves in future transactions to broker-dealers through which they trade, using their LTID. Form 13H filings will be required for large traders beginning Dec. 1, 2011. The questions...