PUBLIC LAW 103-202—DEC. 17, 1993 107 STAT. 2347 (1) by redesignating subsection (f) as subsection (g); and (2) by inserting after subsection (e) the following new subsection: "(f) LARGE POSITION REPORTING.— "(1) REPORTING REQUIREMENTS. —The Secretary may adopt rules to require specified persons holding, maintaining, or controlling large positions in to-be-issued or recently issued Treasury securities to file such reports regarding such positions as the Secretary determines to be necessary and appropriate for the purpose of monitoring the impact in the Treasury securities market of concentrations of positions in Treasury securities and for the purpose of otherwise assisting the Commission in the enforcement of this title, taking into account any impact of such rules on the efficiency and liquidity of the Treasury securities market and the cost to taxpayers of funding the Federal debt. Unless otherwise specified by the Secretary, reports required under this subsection shall be filed with the Federal Reserve Bank of New York, acting as agent for the Secretary. Such reports shall, on a timely basis, be provided directly to the Commission by the person with whom they are filed. "(2) RECORDKEEPING REQUIREMENTS.—Rules under this subsection may require persons holding, maintaining, or controlling large positions in Treasury securities to make and keep for prescribed periods such records as the Secretary determines are necessary or appropriate to ensure that such persons can comply with reporting requirements under this subsection. "(3) AGGREGATION RULES. —Rules under this subsection— "(A) may prescribe the manner in which positions and accounts shall be aggregated for the purpose of this subsection, including aggregation on the basis of common ownership or control; and "(B) may define which persons (individually or as a group) hold, maintain, or control large positions. " (4) DEFINITIONAL AUTHORITY; DETERMINATION OF REPORT- ING THRESHOLD.— "(A) In prescribing rules under this subsection, the Secretary may, consistent with the purpose of this subsection, define terms used in this subsection that are not otherwise defined in section 3 of this title. "(B) Rules under this subsection shall specify— "(i) the minimum size of positions subject to reporting under this subsection, which shall be no less than the size that provides the potential for manipulation or control of the supply or price, or the cost of financing arrangements, of an issue or the portion thereof that is available for trading; "(ii) the types of positions (which may include financing arrangements) to be reported; "(iii) the securities to be covered; and "(iv) the form and manner in which reports shall be transmitted, which may include transmission in machine readable form. "(5) EXEMPTIONS.—Consistent with the public interest and the protection of investors, the Secretary by rule or order may exempt in whole or in part, conditionally or luiconditionally,
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