Recent Regulatory Reporting Updates - What Your Firm Needs to Know

December 15, 2017 by Chintan Gandhi

Recent Regulatory Reporting Updates - What Your Firm Needs to Know

Firms in both the U.S. and the UK need to be aware of recent changes made to regulatory reporting forms. While the industry has been focused on MiFiD II, enhancements continue to be made to existing regulatory filings that require firms to keep abreast of their changes and modifications.

Form PF Updates

Form PF is not dead — the requirements coming out of the Dodd-Frank act have continued to adapt as the U.S. Securities and Exchange Commission ("SEC") clarifies its definitions and FAQs. Most recently, the Private Fund Reporting Depository ("PFRD") released its second Form PF update of 2017 on December 9. While minor in scope, the update will impact hedge funds and liquidity funds. ACA expects these changes to impact off-calendar and liquidity fund filers initially; quarterly filers will be impacted in the report due on March 1, 2018.

AIFMD Annex IV Reporting - FCA Updates

The UK Financial Conduct Authority ("FCA") continues to modify the reporting requirements for its implementation of ESMA’s AIFMD. Earlier this year, the UK joined a number of other jurisdictions in requiring master-fund level drill-through for feeder funds marketed in the EU. Most recently, on November 27, the FCA updated its AIF001 and AIF002 forms on its GABRIEL platform to comply with ESMA’s version 1.2 update for Annex IV reporting. These changes serve to bring the UK reporting in line with other jurisdictions. ACA expects these changes to impact firms' December 31 reports, which are due at the end of January 2018.

How ACA Can Help

ACA Technology's Regulatory Reporting solution (RR) is the single platform solution designed to help today’s investment management community successfully prepare for and respond to evolving regulatory mandates. Architected to be both modular and scalable, RR is an extremely efficient, fast-to-deploy solution for Form PF, AIFMD Annex IV, CPO/PQR, and emerging regulatory reporting obligations. Investment managers can deploy the entire RR platform or select modules that apply to their current needs with the option to add others as new demands arise.

About the Author

Chintan Gandhi is a Managing Director at ACA Technology, a division of ACA Compliance Group. He has over fifteen years of experience as a business analyst and project manager in the financial industry, supporting buy-side and sell-side clients. With his technical knowledge and industry expertise, Chintan plays a key role in developing and delivering financial software solutions, including portfolio management, order management, and regulatory reporting software for Form PF and AIFMD Annex IV. He joined ACA when the firm acquired NorthPoint Financial. During his tenure at NorthPoint and at ACA, Chintan has worked and works as a valued adviser to clients. In particular, he makes sure they can maximize technology platform benefits for their businesses. Prior to ACA, Chintan served as a vice president at Credit Suisse and Citibank, a senior consultant at Random Walk Computing (acquired by Accenture), and a project manager at OM Technology. He began his career as a business systems analyst at Prudential Securities. Chintan earned his Master’s degree in Management Information Systems from Kean University and his Bachelor’s degree in Biology from Rutgers University.