Thu, 25/04/2013 - 10:04
Advise Technologies, a software solutions provider for regulatory compliance, will offer the first CPO-PQR e-filing platform to the National Futures Association (NFA) EasyFile portal.
This will be the first time that filing electronically is possible for Form CPO-PQR.
Advise has worked closely with the NFA and several clients in the NFA’s pilot e-filing programme. Following successful testing in the pilot programme, the CPO-PQR add-on module is featured as part of Advise’s Consensus RMS platform and provides commodity pool operators (CPOs) an efficient and secure resource for filing Form CPO-PQR.
Consensus RMS is a global regulatory and investor reporting platform that allows firms to generate Form CPO-PQR, Form PF, and Open Protocol Enabling Risk Aggregation (OPERA) reporting from a single set of data, providing operational efficiency and ensuring the consistency required by regulators. It is used by over half of the first-round Form PF hedge fund and private equity filers, with direct clients representing over USD1trn in hedge fund assets, USD48bn in private equity assets, and USD14bn in other private funds.
Support for CTA-PR, Treasury International Capital (TIC), Alternative Investment Fund Managers Directive (AIFMD) and other regulatory and investor reporting requirements is planned for release later this year.
Last February, the Commodity Futures Trading Commission (CFTC) issued final rules on registration and reporting requirements for CPOs. For entities that are already registered with both the CFTC and the Securities and Exchange Commission (SEC), the new form will be supplemental to Form PF. Similar to Form PF filing guidelines, the amount of information collected and the timing of each report varies according to the firm’s assets under management.
Advisers with at least USD1.5bn AUM will be required to file Form CPO-PQR on a quarterly basis within 60 days of the end of each calendar quarter, while advisers with less than USD1.5bn AUM will only need to file annually within 90 days of the end of each calendar year.
“Regulators have made a conscious effort to increase transparency across the financial landscape over the past several years, which has led to cumbersome requirements for investment advisers,” says Doug Schwenk, chief executive of Advise Technologies. “The ability to e-file with Consensus RMS will drastically alleviate the pains of filing, while helping firms eliminate the errors often associated with manual processes.”
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