SEC Proposed Rule: Modernized Investment Company Reporting Requirements
|Proposal Date||Comment Deadline||Final Rule Issue|
|May 20th, 2015||60 days after Federal Register||TBA|
On May 20th, 2015 the Securities and Exchange Commission released it proposal to update the reporting requirements of investment companies, along with investment advisers. It proposes two new forms (N-CEN and N-PORT) that would change how census type information is reported and a new portfolio disclosure requirement.
Portfolio Reporting / Form N-Port
Form N-PORT would require that investment advisers disclose monthly information about their funds' investment. The form would include:
- Pricing Data
- Repurchasing agreements, securities lending activities, and exposures to counter-parties.
- Derivative contract terms
- Discrete portfolio level and risk measures of the position level <ref>SEC Proposes Rules to Modernize and Enhance Information Reported by Investment Companies and Investment Advisers. SEC. Retrieved on May 21, 2015.</ref>
Census Reporting / Form N-CEN
Form N-CEN would replace form N-SAR. This would be an annual reporting form that would take census information. Reports would be filed within 60 days of the end of the funds fiscal year. <ref>SEC Proposes Rules to Modernize and Enhance Information Reported by Investment Companies and Investment Advisers. SEC. Retrieved on May 21, 2015.</ref>