Who Must File Form 13H?
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 13H?
Answer: Yes. Regardless of whether any amended Forms 13H are filed, large traders also are required to file Form 13H annually, within 45 days after the calendar year-end.
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.
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.
Is Form 13H publicly available?
Form 13H is a web-based electronic form, though a paper copy of the form (for reference purposes) can be found on the SEC’s website. Form 13H is submitted to the SEC through the EDGAR system, but submitted Form 13H filings are not made publicly available.
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.