SEC Modernization – the Storm is Coming

Mar 28, 2016 6:00:00 AM / by John Bartlett

Topics: Fund Regulatory Requirements, FinTech

We had a workshop last week in Boston attended by reporting teams from five different asset managers. The group was diverse not only in the size of funds managed, but the pieces of accounting and reporting that were managed in-house versus outsourced. There was some of everything.

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A Year of Regulatory Monsters is on the Horizon

Mar 8, 2016 5:30:00 AM / by Cynthia Taylor

Topics: Fund Regulatory Requirements

In February 2016, the European Commission proposed granting national authorities and market participants one additional year to comply with the rules set out in the revised Markets in Financial Instruments Directive, known as MiFID II. The new deadline is 3 January 2018.

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How European Asset Management Regulation Has Become a Reporting Nightmare

Feb 18, 2016 5:30:00 AM / by Cynthia Taylor

Topics: Fund Regulatory Requirements, Fund Fact Sheet

An article that appeared in Ignites Europe this week highlights the increased workload and stress, which the reporting and legal teams at European asset managers are feeling in anticipation of upcoming regulatory changes and requirements initiated by MiFID II legislation. Not to mention that 30 percent of asset manager change budgets will be spent implementing the new rules, according to a survey conducted recently by Alpha FMC.  

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How Bob Dylan Foreshadowed the N-PORT and N-CEN Regulatory Changes

Aug 26, 2015 6:00:00 AM / by John Bartlett

Topics: Fund Regulatory Requirements

Come gather 'round people
Wherever you roam
And admit that the waters
Around you have grown
And accept it that soon
You'll be drenched to the bone.
If your time to you
Is worth savin'
Then you better start swimmin'
Or you'll sink like a stone
For the times they are a-changin'.

--Bob Dylan

Dylan wrote this in 1963 amid all the social and political unrest that America was experiencing at the time. To put it in historical context, President Kennedy was shot 30 days later.

This got me thinking about the N-PORT and N-CEN SEC regulatory changes coming to the U.S. mutual fund market.

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Unstructured vs. Structured Data: How the Proposed SEC Changes will Make You Choose Sides

Jul 27, 2015 3:32:00 PM / by John Bartlett

Topics: Fund Regulatory Requirements

On May 20, 2015 the SEC proposed significant changes to the filing requirements of 1940 Act Filing entities.

Here is a brief summary:

  • New Form N-PORT, which will require certain registered investment companies to report information about their monthly portfolio holdings in a structured data format;
  • Amendments to Regulation S-X, which will require a registered investment company to include standardized, enhanced disclosure about its investments in derivatives in its financial statements;
  • New Rule 30e-3, which will permit, but not require, registered investment companies to transmit (subject to certain conditions) periodic reports to shareholders on a website; and
  • New Form N-CEN, which will require registered investment companies (other than face amount certificate companies) to annually report certain census-type information.
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