What Should Fund COOs Worry About?
Given the dramatic impending changes in regulatory reporting requirements for asset management firms, their chief operating officers, administrators and compliance officials have pretty “full plates” these days. There is no shortage of reporting issues that hedge, mutual, and exchange-traded funds must address, including more extensive requirements arising from the SEC’s modernization drive, such as forms N-PORT, N-CEN, N-LIQUID, and major changes to Form ADV. International regulators have been active as well, imposing new or revised reporting standards such as the European Union’s MiFID II and EMIR, and Switzerland’s FinfraG. These emerging developments will add to funds’ existing reporting burdens, which already include various registration requirements, disclosures of holdings and trading activity, KYC and AML reporting, tax-related reporting, and a host of other disclosures.
Much has been written by consultants, software providers and the regulators themselves about how to comply with each new or revised reporting standard. It is important, however, to take a step back and look at the bigger picture – identifying broad business concerns that are triggered by new reporting protocols. My perspective on these concerns has been shaped by my experience as a former COO of a $7 billion hedge fund, and as the founder and CEO of a successful regulatory and compliance reporting provider for investment managers…
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CSS frequently publishes blog posts which are written by our team from their observations in the field, at conferences and through experiences with compliance professionals. These posts are designed to further knowledge and share industry best practices. Topics run the gamut, including Form ADV, cybersecurity, MiFID II, position limit monitoring, technology challenges and more. Complete and submit the brief form below to receive notifications when we publish new content.