Advise Technologies Successfully Submits Form N-PORT Test Filing

Our successful Form N-PORT test filing is a testament to Advise’s singular focus on providing our clients with a tool that is reliable, scalable, and agile enough to keep pace with regulatory changes.

Advise Technologies successfully submitted a Form N-PORT test filing to the SEC today using its Consensus reporting platform. Advise’s filing comes as the SEC opened the testing period on September 11, 2017.

With this milestone, Advise clients will now be able to fully evaluate their SEC Reporting Modernization preparedness. Using Consensus, clients can directly submit Form N-PORT test filings to the SEC via EDGAR in the required XML format.

“Our successful Form N-PORT test filing is a testament to Advise’s singular focus on providing our clients with a tool that is reliable, scalable, and agile enough to keep pace with regulatory changes,” said Ethan Wishnick, Managing Director for SEC Reporting Modernization at Advise. “Advise is ready to assist clients through every step of the Form N-PORT filing process.”

The Form N-PORT and Form N-CEN modules in Consensus offer a robust calculations engine, management reporting, a full audit trail, and e-filing submission, among other features.

Form N-PORT now requires all registered investment companies (RICs) and ETFs organized as unit investment trusts (UITs) to report portfolio holding details on a monthly basis. It replaced 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 deadline, while those with a NAV < $1 billion have a June 1, 2019 compliance deadline.

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 deadline of June 1, 2018.

Advise recently partnered with experts from Bloomberg, Dechert, and EY to host a webinar on Form N-PORT and Form N-CEN reporting requirements and challenges. A recording of the webinar can be accessed here: http://bit.ly/Advise_NPORT

Advise hosted a webinar on Form N-PORT’s Rule 22e-4 liquidity risk management requirements. A recording of the webinar can be accessed here: http://bit.ly/RegNPORT22e4

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