Which of the following is NOT a requirement for access persons under the IA Act of 1940?

Under the Investment Advisers Act of 1940, access persons, who are typically individuals associated with an investment adviser, have specific reporting requirements to ensure transparency and manage potential conflicts of interest. Among these requirements, submitting security holdings is essential for keeping track of an access person's financial interests and identifying any conflicts with clients. Recording transactions within five days helps maintain transparency and allows the firm to monitor trading activities more closely.

While access persons are required to disclose personal trades, particularly those that could conflict with clients' interests, they are not mandated to file transaction reports on a monthly basis. Instead, the regulations generally specify that transaction records must be kept, but the frequency and specifics of reporting may vary depending on the firm’s internal policies and applicable laws. Monthly transaction reports may be part of some firms' practices but are not a defined requirement under the IA Act itself. Thus, the choice pertaining to filing a transaction report every month correctly identifies something that is not universally required by the Act.