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.”

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