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SEC adopts rules and forms to modernize reporting requirements for registered investment companies

SEC adopts rules and forms to modernize reporting requirements for registered investment companies To explain the new rules, forms, and amendments to current rules and forms (Final Rule) that the Securities and Exchange Commission (SEC) has adopted to modernize the reporting of information provided by registered investment companies (funds) and to improve the quality and type of information that funds provide to the SEC and investors.Design/methodology/approachDiscusses the background leading up to the Final Rule, provides an overview and summary of the Final Rule’s key components, and highlights issues that may be raised by the new reporting regime.FindingsThe Final Rule will have a significant effect on many funds. Funds will experience a substantially increased reporting burden with respect to both the frequency of reporting and the granularity of information required.Practical implicationsFund managers and fund service providers should begin to evaluate the impact of the Final Rule, the processes that will need to be implemented to prepare filings on new forms, and the changes in fund disclosure practices that will be required in response to the amendments to certain forms.Originality/valuePractical guidance from financial services lawyers specializing in the investment management industry. http://www.deepdyve.com/assets/images/DeepDyve-Logo-lg.png Journal of Investment Compliance Emerald Publishing

SEC adopts rules and forms to modernize reporting requirements for registered investment companies

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Publisher
Emerald Publishing
Copyright
© Dechert LLP 2016
ISSN
1528-5812
DOI
10.1108/joic-02-2017-0012
Publisher site
See Article on Publisher Site

Abstract

To explain the new rules, forms, and amendments to current rules and forms (Final Rule) that the Securities and Exchange Commission (SEC) has adopted to modernize the reporting of information provided by registered investment companies (funds) and to improve the quality and type of information that funds provide to the SEC and investors.Design/methodology/approachDiscusses the background leading up to the Final Rule, provides an overview and summary of the Final Rule’s key components, and highlights issues that may be raised by the new reporting regime.FindingsThe Final Rule will have a significant effect on many funds. Funds will experience a substantially increased reporting burden with respect to both the frequency of reporting and the granularity of information required.Practical implicationsFund managers and fund service providers should begin to evaluate the impact of the Final Rule, the processes that will need to be implemented to prepare filings on new forms, and the changes in fund disclosure practices that will be required in response to the amendments to certain forms.Originality/valuePractical guidance from financial services lawyers specializing in the investment management industry.

Journal

Journal of Investment ComplianceEmerald Publishing

Published: May 2, 2017

Keywords: U.S. Securities and Exchange Commission (SEC); Form N-CEN; Form N-PORT; Investment companies; Regulation S-X; Modernized reporting

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