Who Must File Form 13H?

Who Must File Form 13H?

large traders
SEC Form 13H is used by large traders to register with the Securities and Exchange Commission (SEC) in accordance with the requirements set forth in Section 13(h) of the Securities Exchange Act of 1934.

Do I need to file a 13H?

A mandatory annual filing on Form 13H (Form 13H-A) within 45 days after the end of each full calendar year. A quarterly filing on Form 13H (Form 13H-Q) within 10 days after the end of any calendar quarter if necessary to amend any inaccurate or changed information in its most recent Form 13H filing.

What happens if you don’t file Form 13H?

Form 13H will be confidential and exempt from Freedom of Information Act requests. What Are the Consequences of Not Filing, or Filing Late? A failure to file Form 13H when required (whether or not inadvertent) could subject the offender to the range of penalties available under the Securities Exchange Act.

What is 13H reporting?

Exchange Act Rule 13h-1 (Large Trader Rule) requires “large traders” to identify themselves as such to the SEC, disclose to other firms their large trader status and, in certain situations, comply with certain filing, recordkeeping and reporting requirements.

Do Canadians need to file a 13H?

Any person that is a large trader of NMS securities must periodically file a Form 13H with the SEC.

What is Rule 13H?

Rule 13h-1 defines a Large Trader as a person whose transactions in NMS securities equal or exceed 2 million shares or $20 million during any calendar day, or 20 million shares or $200 million during any calendar month. The Rule also applies to persons that exercise investment discretion over trading in NMS securities.

What is a 13H large trader?

Rule 13h-1 defines a Large Trader as a person whose transactions in NMS securities equal or exceed 2 million shares or $20 million during any calendar day, or 20 million shares or $200 million during any calendar month.

Are ETFS considered NMS securities?

NMS, the national system for trading stocks in the United States, includes all of the major stock exchanges and other facilities and entities used by broker-dealers to fulfill trade orders for securities, including ETF shares.

How do I get a large trader ID?

How Do You Get It. The SEC will provide a Large Trader ID (LTID) upon receipt of the Form 13H. The Rule 13h-1 requires larger traders to identify themselves by registering with the SEC to attain a unique large trader identification number.

When did Reg NMS go into effect?

Key Takeaways. The SEC issued the Regulation National Market System (Reg NMS) in 2005 to strengthen U.S. securities exchanges and account for changing technology. The goal of Reg NMS was to improve market efficiency and fairness.

What does Regulation NMS apply to?

Understanding Regulation NMS This rule requires trading centers to establish, maintain, and enforce written policies and procedures that are reasonably designed to prevent the execution of trades at prices that are inferior to protected quotations displayed by other trading centers.