Chicago
08 May 2017
Reporter: Mark Dugdale
NT and Donnelley tackle reporting
Northern Trust and Donnelley Financial Solutions have teamed up to provide mutual fund administration clients with an automated process for the collection, creation, review and filing of disclosure documents.

The bank will use Donnelley’s ArcFiling solution to generate and submit the new N-PORT and N-CEN forms required under the reporting modernisation rules of the US Securities and Exchange Commission (SEC).

The reporting modernisation rules, which were adopted last year, will enhance data reporting for mutual funds, exchange-traded funds and other registered investment companies. They will be required to file a new monthly portfolio reporting form, known as Form N-PORT, and a new annual reporting form, known as Form N-CEN, which demands census-type information.

The rules also will require enhanced and standardised disclosures in financial statements and will add new disclosures in fund registration statements relating to a fund’s securities lending activities.

Most funds would be required to comply with the liquidity risk management programme requirements on 1 December 2018. Funds with less than a $1 billion in net assets will be required to comply on 1 June 2019.

“Northern Trust continually looks for ways to enhance our processes to help clients comply with regulatory rules,” said Dan Houlihan, head of Americas global fund services at the bank.

“With the ArcFiling tool, we will be able to streamline automated and efficient filing processes for our clients. This allows our clients to focus on the liquidity risk management programs for their funds.”

Eric Johnson, president of global investment markets at Donnelley Financial Solutions, said: “Our ArcFiling solution is designed to make it easier and more efficient for administrators and funds to manage the significant, monthly volume that N-PORT will introduce.”

More Industry news
The latest news from Asset Servicing Times
Join Our Newsletter

Sign up today and never
miss the latest news or an issue again

Subscribe now
BNP Paribas: ESG investment seeing increased interest
25 May 2017 | London | Reporter: Stephanie Palmer
The survey report noted that 77 percent of asset owners already incorporate ESG aspects into their strategies
Funds need to keep an eye on BEPS negotiations
24 May 2017 | London | Reporter: Becky Butcher
Fund participants were encouraged at Guernsey’s Fund Forum to pay close attention to negotiations over base erosion and profit sharing (BEPS) rules
Northern Trust expands UAE operations
24 May 2017 | Abu Dhabi | Reporter: Stephanie Palmer
Northern Trust has opened a new branch office in Abu Dhabi, as part of a continuing focus on business in the UAE
R3 raises record funds for DLT development
24 May 2017 | London | Reporter: Stephanie Palmer
The R3 group has raised $107 million in two tranches of fundraising, securing the largest ever investment in distributed ledger technology to date
Promotions abound at Interstrust in Jersey
24 May 2017 | Jersey | Reporter: Stephanie Palmer
Intertrust in Jersey has made a spate of promotions, including elevating Sherin Sugeeswaran to the role of associate director in the fund services team
RSRCHXchange boosts research offering with data consumption partnership
23 May 2017 | London | Reporter: Stephanie Palmer
Institutional research marketplace RSRCHXchange has partnered with corporate access management solution provider CorpAxe in order to make research consumption data available to the buy side
Canadian securities regulator expands T+2 proposals
19 May 2017 | Toronto | Reporter: Drew Nicol
The Canadian Securities Administrators has released its final proposal for the transition of mutual funds and equity and long-term debt to T+2 on 5 September
More Industry news