Large Trader Reporting System

概要

The Commission is reproposing Rule 13h-1 and Form 13H under Section 13(h) of the Securities Exchange Act of 1934 (``Exchange Act''). Rule 13h-1 was initially proposed by the Commission in Exchange Act Release No. 29593 (August 22, 1991), 56 FR 42550 (August 28, 1991). Reproposed Rule 13h-1 would establish an activity-based identification, recordkeeping, and reporting system for large trader accounts and transactions. Reproposed Rule 13h-1 also would establish a definition for large traders and require such large traders to file Form 13H with the Commission. Registered broker-dealers would be required to maintain transaction records for each large trader account and report transactions upon the request of the Commission or a self-regulatory organization (``SRO'') designated by the Commission. Reproposed Rule 13h-1 would fulfill the goals of the Market Reform Act of 1990 (``Market Reform Act'') by providing the Commission with the information necessary to reconstruct trading activity in periods of market stress and for enforcement or other regulatory purposes, without imposing undue burdens or costs on market participants.