On April 20th, the SEC temporarily exempted to May 1, 2013, certain broker-dealers from the large trader reporting requirements of Rule 13h-1 of the Securities Exchange Act. The compliance date is extended to November 30, 2012 for broker-dealers that are large traders or have large trader customers that are either broker-dealers or that trade through a "sponsored access" arrangement. The extension of the compliance date will allow broker-dealers additional time to develop, test, and implement enhancements to their recordkeeping and reporting systems as required under Rule 13h-1 and, for those broker-dealer requirements for which the compliance date has been extended to May 1, 2013, for the Commission to consider requests for relief from certain provisions of the Rule. In addition, the Commission is exempting certain transactions from the definition of the term "transaction" provided in Rule 13h-1(a)(6), but for the sole purpose of determining whether a person is a large trader. SEC Release No. 34-66839.