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Breaking News

May 21, 2015

ACA Insight Breaking News - SEC Proposes New Reporting and Disclosure Requirements

The SEC yesterday proposed changes that will require investment companies and advisers to report and disclose more information and, in some instances, in new ways.

Investment companies will need to complete new forms to report on portfolio holdings and census-type information, but will also say goodbye to two current forms, if the proposal is adopted. They will be allowed to provide shareholder reports and quarterly portfolio holdings for the past year online.

Investment advisers will be required to provide additional Form ADV information on the “risk profile of individual advisers and the industry as a whole” under the proposed changes, the SEC said. In addition, the changes would require aggregate information related to assets held and use of borrowings and derivatives in separately managed accounts. Advisers would also need to maintain records of their calculation of performance information that is distributed to any person.

For more information, see the full article on the ACA Insight web site.

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