Large Trader Monitoring Requirements

What this video covers

• The three account arrangements that trigger a broker-dealer's large trader recordkeeping duty, including accounts carried by non-broker-dealers
• The 13 transaction items firms must maintain, including clearing identifiers, security symbols, execution details, transfers, market centers, and account designations
• The distinction between an identified large trader's identification number and the four biographical fields required for an Unidentified Large Trader
• The three-year retention period, the first two years of easy accessibility, and next-morning availability even when the next morning falls on a Saturday or holiday
• When the SEC can request a machine-readable transaction report, what activity qualifies for reporting, and why reporting is request-driven rather than quarterly
• How the safe harbor measures National Market System (NMS) activity within the firm's own records and depends on the absence of actual knowledge
• The safe harbor's identify, treat, inform procedures, and why safe harbor protection does not eliminate recordkeeping duties