Rule 13h-1 Large Trader Reporting Requirement for Broker DealersThe SEC has created a significant challenge within the broker dealer community with the adoption of new Rule 13h-1 concerning Large Trader Reporting (LTR/LTID).
Jordan & Jordan's LTR/LTID Subject Matter Experts have been working with regulators since the rule was approved in July 2011 to address the substantial implementation issues faced by the industry. Jordan & Jordan can assist your firm in complying with new Large Trader Rule obligations including:
- Capturing and storing Large Trader IDs
- Reporting execution times and LTIDs on Sponsored Access Accounts
- Reporting on Average Prive Trades
- Monitoring and reporting unidentified Large Traders
- Creating new processes to incorporate changes to Electronic Blue Sheet (EBS) Reporting
- Linking LTIDs to the EBS process
- Identifying the impact on Direct Market Access (DMA) and Sponsored Access (SA) customers
- Performing and Impact Assessment and Gap Analysis of your current capabilities
- Creating and managing a project plan to incorporate Large Trader obligations into day to day activities, to ensure corrdination between Front Office, Middle Office, and Back Office and Compliance
- Drafting Workflow and Supervisory Prcedures aimed at establishing day to day support and surveillance to ensure full compliance with the Rule.
- Designing a System of Review to test and verify your firm's compliance with Rule 13h-1.
Why Jordan & Jordan?
Jordan & Jordan's LTR/LTID expertise leverages knowledge gained from our industry leadership and involvment working with regulators and broker dealers to shape practicable requirements, and from our experience assisting broker dealers with the various implementations required by the Large Trader Reporting Rule.
Jordan & Jordan is experienced in managing large-scale projects, where industry timelines are critical and your internal resources must be used efficiently. Our familiarity with the securities trading process extends from decision support and order entry to back office processing and asset servicing, providing a solid foundation for process review, compliance analysis and issue resolution . Continually keeping pace with market practice and regulatory change, we provide business, regulatory and technical solutions to meet the challenges faced by our customers in an increasingly competitive market.
For additional information on Jordan & Jordan's 13h-l Compliance Solutions contact contact Michael O'Conor at 212-655-2953.