Regulatory reporting provider Advise Technologies helped liquidity fund clients file Form PF by the initial deadline of July 16, the company says.
July 16 was the first deadline for investment advisers with over $5 billion regulatory assets under management (AuM) attributable to liquidity funds and registered money market funds. On August 29, remaining private funds of that size will be required to file Form PF as well.
A provision of Dodd-Frank, Form PF requires private fund advisers registered with the Securities and Exchange Commission to submit reports on their risk exposure and other statistical data.
Regulatory reporting is increasingly global, and the successful completion of the first wave of Form PF filers is just the beginning, says Doug Schwenk, president and CEO of Advise Technologies. For even the most sophisticated funds, Form PF compliance represents an entirely new process for compiling information across multiple systems and data sets. Firms need to institutionalize their processes and systems to ensure consistent, reliable reporting along with the proper processes and controls.
(OS)