Rule 13h-1 – Large Trader Reporting System

Forms and Documents

Document Name	Status
Form SEC 13H Rule 13h-1 - Large Traders Initial Filing Form and Instruction	Modified
3235-0682 30 Day Notice.pdf Supplementary Document	2021-04-21
3235-0682 60 Day Notice.pdf Supplementary Document	2021-04-21
DGL REVISED FINAL 2021 13h-1 Supporting Statement v2 (004).pdf Supporting Statement A	2021-01-26

IC Document Collections

IC ID	Document Title	Status
193893	Rule 13h-1 - Broker-Dealer Reporting	Modified
193892	Rule 13h-1 - Broker-Dealer Monitoring	Modified
193891	Rule 13h-1 - Annual and Quarterly Reporting	Modified
193890	Rule 13h-1 - Large Traders Initial Filing Form and Instruction	Modified

ICR Details

OMB Control No: 3235-0682	ICR Reference No: 202009-3235-011
Status: Received in OIRA	Previous ICR Reference No: 201709-3235-010
Agency/Subagency: SEC	Agency Tracking No: TM-270-614
Title: Rule 13h-1 – Large Trader Reporting System
Type of Information Collection: Extension without change of a currently approved collection	Common Form ICR:  No
Type of Review Request: Regular	Date Submitted to OIRA: 04/21/2021

	Requested	Previously Approved
Expiration Date	36 Months From Approved	05/31/2021
Responses	69,155	44,700
Time Burden (Hours)	185,200	117,900
Cost Burden (Dollars)	0	0

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Abstract: The Securities and Exchange Commission ("Commission") is adopting new Rule 13h-1 and Form 13H under Section 13(h) of the Securities Exchange Act of 1934 ("Exchange Act") to establish large trader reporting requirements. The rule is intended to assist the Commission in identifying and obtaining certain baseline trading information about traders that conduct a substantial amount of trading activity, as measured by volume or market value, in the U.S. securities markets. In essence, a "large trader" will be defined as a person whose transactions in NMS securities equal or exceed (i) two million shares or $20 million during any calendar day, or (ii) 20 million shares or $200 million during any calendar month. The large trader reporting regime is designed to facilitate the Commission's ability to assess the large trader activity on the securities markets, to reconstruct trading activity following periods of unusual market volatility, and to analyze significant market events for regulatory purposes. It also should enhance the Commission's ability to detect and deter fraudulent and manipulative activity and other trading abuses, and should provide the Commission with a valuable source of useful data to study markets and market activity. The identification, recordkeeping, and reporting system will provide the Commission with a mechanism to identify large traders and their affiliates, accounts, and transactions. Specifically, Rule 13h-1 will require large traders to identify themselves to the Commission and make certain disclosures to the Commission on Form 13H. Upon receipt of Form 13H, the Commission will issue a unique identification number to the large trader, which the large trader will then provide to its registered broker-dealers. Registered broker-dealers will be required to maintain transaction records for each large trader, and will be required to report that information to the Commission upon request. In addition, certain registered broker-dealers subject to Rule 13h-1 will be required to perform limited monitoring of their customers' accounts for activity that may trigger the large trader identification requirements of Rule 13h-1.

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Authorizing Statute(s): US Code: 15 USC 78m and 78w Name of Law: Sections 13(h) and 23(a) of the Securities Exchange Act
  

Citations for New Statutory Requirements: None

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Associated Rulemaking Information
RIN:	Stage of Rulemaking:	Federal Register Citation:	Date:
	Not associated with rulemaking

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Federal Register Notices & Comments
60-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 8658	02/08/2021
30-day Notice:	Federal Register Citation:	Citation Date:
	86 FR 20755	04/21/2021
Did the Agency receive public comments on this ICR? No

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Number of Information Collection (IC) in this ICR: 4

IC Title	Form No.	Form Name
Rule 13h-1 - Annual and Quarterly Reporting
Rule 13h-1 - Broker-Dealer Monitoring
Rule 13h-1 - Broker-Dealer Reporting
Rule 13h-1 - Large Traders Initial Filing	SEC 13H	Form 13H

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ICR Summary of Burden

	Total Request	Previously Approved	Change Due to New Statute	Change Due to Agency Discretion	Change Due to Adjustment in Estimate	Change Due to Potential Violation of the PRA
Annual Number of Responses	69,155	44,700	0	0	24,455	0
Annual Time Burden (Hours)	185,200	117,900	0	0	67,300	0
Annual Cost Burden (Dollars)	0	0	0	0	0	0

Burden increases because of Program Change due to Agency Discretion: No

Burden Increase Due to:

Burden decreases because of Program Change due to Agency Discretion: No

Burden Reduction Due to:

Short Statement: The estimated hour burden increased due to an increase in the estimated number of respondents.

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Annual Cost to Federal Government: $0

Does this IC contain surveys, censuses, or employ statistical methods? No

Does this ICR request any personally identifiable information (see OMB Circular No. A-130 for an explanation of this term)? Please consult with your agency's privacy program when making this determination.     Yes

Does this ICR include a form that requires a Privacy Act Statement (see 5 U.S.C. §552a(e)(3))? Please consult with your agency's privacy program when making this determination.     Yes

Is this ICR related to the Affordable Care Act [Pub. L. 111-148 & 111-152]? No

Is this ICR related to the Dodd-Frank Wall Street Reform and Consumer Protection Act, [Pub. L. 111-203]? No

Is this ICR related to the American Recovery and Reinvestment Act of 2009 (ARRA)? No

Is this ICR related to the Pandemic Response? No

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Common Form ICR:  No

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On behalf of this Federal agency, I certify that the collection of information encompassed by this request complies with 5 CFR 1320.9 and the related provisions of 5 CFR 1320.8(b)(3).

The following is a summary of the topics, regarding the proposed collection of information, that the certification covers:

(a) It is necessary for the proper performance of agency functions;

(b) It avoids unnecessary duplication;

(c) It reduces burden on small entities;

(d) It uses plain, coherent, and unambiguous language that is understandable to respondents;

(e) Its implementation will be consistent and compatible with current reporting and recordkeeping practices;

(f) It indicates the retention periods for recordkeeping requirements;

(g) It informs respondents of the information called for under 5 CFR 1320.8 (b)(3) about:

(i) Why the information is being collected;

(ii) Use of information;

(iii) Burden estimate;

(iv) Nature of response (voluntary, required for a benefit, or mandatory);

(v) Nature and extent of confidentiality; and

(vi) Need to display currently valid OMB control number;

(h) It was developed by an office that has planned and allocated resources for the efficient and effective management and use of the information to be collected.

(i) It uses effective and efficient statistical survey methodology (if applicable); and

(j) It makes appropriate use of information technology.

If you are unable to certify compliance with any of these provisions, identify the item by leaving the box unchecked and explain the reason in the Supporting Statement.

Certification Date: 04/21/2021

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