Title

SEC Proposes Large Trader Reporting System
Client Memorandum

Created date

4/20/2010
On April 14, 2010, the Securities and Exchange Commission (the “SEC”) proposed a new rule to establish a large trader reporting system.1 The rule would require large traders of exchange-listed stocks and options (“NMS securities”) to register with the SEC and obtain a unique large trader identification number, which they would provide to their registered broker-dealers with every order.