May 20, 2015
Dear Friends,
Today, the SEC proposed new rules, forms and amendments which will require additional disclosures from investment companies and investment advisers.
Investment company proposals include:
- Form N-PORT: a new form requiring a monthly report of the fund’s investments;
- Form N-CEN: a new form requiring an annual report of census-type information, replacing the current Form N-SAR;
- Amendments to enhance and standardize disclosures in fund financial statements; and
- Allowing registered investment companies to provide shareholder reports on their websites.
Investment adviser proposals include:
- Amendments to the Form ADV to require additional information in several areas including separately managed accounts and the use of social media; and
- Amending Rule 204-2 to require advisers to maintain records of performance information given to any person (currently, advisers are required to maintain records of performance information is distributed to 10 or more persons).
The comment period closes 60 days after publication in the Federal Register.
Please click here for the press release and feel free to contact us with any questions at (212) 867-0200 or email us at info@counselworksllc.com.
Thank you,
CounselWorks
