The SEC (do not link) recently adopted a new rule (Rule 13H-1) which requires filing of Form 13H. This new rule is of interest to investment advisers because it requires “large traders” to register by filing new Form 13H with the SEC.
A “large trader” is defined as a person whose transactions in exchange-listed securities equal or exceed two million shares or $20 million during any one calendar day, or 20 million shares or $200 million during any calendar month.
Once the initial Form 13H is filed, the SEC will assign each large trader an identification number (LTID), which the large trader must then provide to its registered broker-dealers. Rule 13h-1 became effective October 3, 2011, and large traders will have until December 1, 2011, to file Form 13H.
For access to M2 Compliance Form 13H documents, please contact us.
If you have any questions regarding Form 13H, please review a FAQ provided by the SEC or contact us.