The Securities and Exchange Commission on Wednesday proposed tracking large blocks of trades by mutual funds, hedge funds, private-equity firms and other large institutional investors. The SEC defines a large trader as those that trade $20 million or more in securities in a day, or 20 million shares or $200 million during any calendar month.
The reporting system would work by assigning a unique identification number to large traders that would be available to their broker/dealers, who in turn would report trading information to the SEC upon request as early as the morning of the first business day after a trade is made.
Register or login for access to this item and much more
All Financial Planning content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access