How often must access persons report their personal securities transactions?

Access persons are typically required to report their personal securities transactions on a quarterly basis, within 30 days after the end of each calendar quarter. This reporting frequency is in place to ensure that there is proper oversight of any potential conflicts of interest, as these individuals have access to sensitive information that could influence their personal investment decisions. This timeline allows the firm to review these transactions in a timely manner and assess whether any conflicts with their professional responsibilities may exist. By requiring this frequent reporting, organizations aim to maintain transparency and uphold compliance with applicable regulations surrounding personal securities trading.

Other reporting frequencies, such as monthly, annually, or bi-monthly, do not align with the established norms for access persons, which is why they are not suitable answers in this context.