Archive | Regulation

Physics, Aircraft Carriers, and Liquidity Buckets

At its March 14 open meeting, the SEC approved a proposal that while still mandating funds to use the SEC’s Form N-PORT to report liquidity classifications, commonly known as “buckets”, it would, among other things, eliminate the public reporting of buckets. The vote was generally split along party lines, with Republican Commissioners Piwowar and Peirce […]

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Putting the Consistency in the Inconsistency: The Importance of a Global Regulatory Framework

Deloitte’s 2018 Regulatory Outlook states that even with all of the regulatory discussions and progress toward regulatory transparency both in Europe and in the United States in 2018, the uncertainty from a global regulatory perspective will remain. The Outlook specifically points out that “[f]inancial services firms need to be prepared to deal with the challenges […]

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Delays Aren’t What They Used to Be

Why the Form N-PORT Temporary Rule Is All Hat and No Cattle

Pretty much from the day the SEC finalized its reporting modernization rules, the industry has lobbied for something to ease the burden of readiness and processing – a delay, an extended monthly due date, a reduction in frequency – and often cybersecurity was the justification for those readiness and processing asks. The requests were met […]

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Getting 30e-3 Wrong Again

Is Rule 30e-3 back? Could we, in the mutual fund industry, actually be poised to move to a (mostly) paperless distribution of shareholder reports? Not so fast, unfortunately. I am sure that we all remember our crazy mixed feelings when the SEC reporting modernization proposal first came out in May 2015: a bold proposal that would require […]

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Happy Birthday, Form N-PORT!

It seems like only yesterday that the SEC finalized the rules for Investment Company Reporting Modernization and the Investment Company Liquidity Risk Management Program, yet in reality that momentous day was about one year ago. While the compliance date is still eight months away, the time between now and the first filing is likely to […]

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Declining ‘Globalization’: Reshoring, Localization and Today’s Politics

Revenue growth projections for offshoring software services and business-process outsourcing (BPO) activities are deteriorating – across the globe. 2017 sales projections for the big players have been reduced multiple times. Industry analysts are downgrading their projections as offshoring firms are continuously battered with increasing headwinds. With the passing of Brexit, the United Kingdom voted for […]

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SEC Modernization Challenges: Data, Reporting Frequency and Implementation

An SEC Modernization Readiness Q&A with Confluence’s Director of Regulatory Reporting Operations

Originally published on Brown Brothers Harriman’s On the Regs blog The SEC finalized its reporting modernization and liquidity rules late last year. What are you hearing are some key implementation challenges for firms specific to these rules? Many firms know there will be an associated cost to their operations, but they are having difficulty quantifying […]

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