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Form 13H Filing Requirements for "Large Traders"

Under new SEC Rule 13h-1, entities and natural persons must register with the SEC ten (10) days after becoming “large traders,” as defined in the rule.  The initial filing of Form 13H was due by December 1, 2011 for entities and natural persons who were large traders on or after the rule’s October 3, 2011 effective date. Rule 13h-1(b)(1) also requires all large traders to file an annual Form 13H 45 days after each full calendar year-end, unless they have filed for inactive status, and no later than the end of any calendar quarter if the information on the form becomes stale.

Because no large trader was required to file Form 13H for the full 2011 calendar year, no large trader is required to file an annual report for 2011, an interpretation that we have confirmed with the staff of the SEC’s Division of Trading and Markets.  See:

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