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What is required under Section 13(h)?


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What is required under Section 13(h)?

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Under Section 13(h), Form 13H must be filed by any organization that is considered a “large trader”. A registered investment adviser qualifies as a “large trader” when the adviser has discretionary authority over one or more accounts that purchase or sell any exchange-listed security in an aggregate amount equal to or greater than 2 million shares of $20 million in a day, or 20 million share or $200 million in a calendar month.

If a registered investment adviser places trades that meet the amounts listed above, it must file Form 13H within 10 days of qualifying as a large trader. Form 13H must then be re-filed annually and updated whenever changes occur.

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