The U.S. Securities and Exchange Commission (SEC) is proposing new rules and forms to modernize the reporting of information by mutual funds, ETFs and other registered investment companies.

According to the proposed measures, fund holdings will have to be provided to the SEC more frequently (monthly) and in a new specific template. Another innovation is the requirement of including information regarding the liquidity of holdings. With regards to periodic reports to shareholders, it will no longer be mandatory to submit hard copies; instead, it will be sufficient to make electronic versions available on a website, subject to certain conditions. Finally, it will be required to add enhanced disclosures about derivatives in financial statements as well as to annually report certain census-type information including a fund’s liquidity risk management practices.

The proposal was initially published on 12th June 2015 in the Federal Register and later amended on 22nd September 2015. Currently, the SEC is gathering feedback from industry participants and comments should be received on or before 13th January 2016. Click to view the proposal and its amendment.

FundAssist prides itself to be at the forefront of regulatory innovation in the funds industry and is available to make a submission on behalf of its clients and interested parties.

Contact us today to learn more about FundAssist’s services and we could help you comply with these proposed rules.

November 23, 2015