Support for Form N-PORT
The SEC rule addressing Investment Company Reporting Modernization adds extensive new reporting requirements for the funds industry. The new disclosures are concentrated in two newly required forms, which will replace existing Forms N-SAR and Form N-Q:
ICE Data Services is positioned to assist our fund clients towards their compliance by aggregating select content from various of our entities:
Scope and Timing
Requirement | Implementation Deadline | Who is Impacted1 | Rule vs. Proposal |
---|---|---|---|
Form N-PORT and Form N-CSR | June 2018 for fund families > $1BN, June 2019 for smaller | All RICs except MMF, SBICs and UIT (op as ETF). | Same |
Form N-CEN | June 2018 | All RICs except face-amount certificates | Same |
Amendments to Regulation S-X | August 2017 | Same as N-PORT | Same |
Content Disclosure Requirements
New content that funds will be required to collect, aggregate and disclose to the SEC includes:
1RIC = Registered Investment Company; SBIC = Small Business Investment Company; UIT = Unit Investment Trust (only those not operating as an ETF are exempted)
2When the exposure is between 1-5% of NAV, the top 50 holdings (and any additional underlying that represents 1% or more of the index weight) will have to be disclosed.
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