Advise Technologies, a software solutions provider for global regulatory compliance, has launched the CPO-PQR and CTA-PR reporting module for its Consensus RMS suite of regulatory reporting solutions.
Forms CPO-PQR and CTA-PR are new reporting requirements for CFTC registered commodity pool operators (CPOs) and commodity trading advisers (CTAs) respectively, and represent the next wave in the global trend of required disclosures on the part of private fund advisers.
Advisers registered with both the CFTC and the SEC will need to comply with this requirement in addition to Form PF. The goal of such requirements is to give regulators better oversight of individual funds as well as more visibility into systemic risk for the industry overall.
The first deadline for Form CPO-PQR is 29 November 2012, when CPOs with greater than USD5bn in assets under management need to file for the quarter ending 30 September 2012. The remaining registered CPOs will need to file the form starting in March 2013. The first filing deadline for CTAs to file the annually required Form CTA-PR is 14 February 2013 for the fiscal year ending 31 December 2012.
“Forms CPO-PQR and CTA-PR are related to Form PF in many ways, but they each have their own idiosyncrasies — which translates into a bigger headache for fund advisers,” says Doug Schwenk, founder and chief executive of Advise. “Automating the process is the only way to ensure consistent results, and not have this be a distraction from the manager’s core business.”