Advise Technologies Releases Updated Form N-PORT and Form N-CEN Modules ahead of SEC Modernization Test Filing Period

Form N-PORT and Form N-CEN Reporting

Advise is ready to assist clients through every step of the filing process. Our software is built and our experts are prepared to answer all client questions.

Advise Technologies has updated the Form N-PORT and Form N-CEN modules in its Consensus RMS platform in preparation for the opening of the SEC Reporting Modernization test filing period on September 11, 2017. The modules were updated based on recently released technical guidance and XML schemas, and will allow for the submission of test filings through EDGAR.

“We’re committed to helping firms meet their SEC Reporting Modernization obligations, and updating our Form N-PORT and Form N-CEN modules brings us one step closer to successful filings,” said Jeanette Turner, Chief Regulatory Attorney and Head of the Best Practices Team at Advise Technologies. “Advise is ready to assist clients through every step of the filing process. Our software is built and our experts are prepared to answer all client questions.”

The Form N-PORT and Form N-CEN modules in Consensus RMS offer a robust calculations engine, management reporting, a full audit trail, and e-filing submission, among other features. With this release, investment managers will be able to evaluate their data preparation methodologies, adopt new processes, and submit test filings in the required structured XML format via Consensus RMS ahead of the compliance date.

Form N-PORT will require all registered investment companies (RICs) and ETFs organized as unit investment trusts (UITs) to report portfolio holding details on a monthly basis. It replaces Form N-Q. Compliance dates are dependent on RIC size: Firms with a net asset value (NAV) ≥ $1 billion have a June 1, 2018 compliance date, while those with a NAV < $1 billion have a June 1, 2019 compliance date.

Form N-CEN will require all RICs (except face-amount certificate companies) to annually report census-type information to the SEC. It replaces Form N-SAR and has a compliance date of June 1, 2018.

In addition to the updated modules, Advise recently partnered with experts from EY, Bloomberg, and Dechert to host a webinar on Form N-PORT and Form N-CEN reporting requirements and challenges. A recording of the…

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