In our new guide, we discuss the background of the SEC’s Investment Company Reporting Modernization Rules and the potential effects on individual financial institutions.
While you can check out the full guide here, the snippet below shares some of deadlines that the new rules present.
If you are a larger entity with net assets of over $1 billion, you were initially required to comply by June 1, 2018. The SEC has granted a nine-month delay, but you must still gather and maintain all the required data as of June 1, 2018.
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Smaller entities with net assets of below $1 billion had an initial compliance date of June 1, 2019. This has been extended to March 1, 2020 but without the same requirements for gathering and maintaining the required data as of June 1, 2018.
Funds must file Form N-PORT no later than 30 days after the end of each month. Accurate and timely filings can present a significant ongoing challenge each month, unless you have robust platforms and processes in place.
The compliance date for Form N-CEN is June 1, 2018, for all funds. Funds must file Form N-CEN within 75 days of their fiscal year-end.
To learn more about the new rule, you can download the full guide here.