As U.S. registered fund companies anticipate compliance with new regulations governing portfolio reporting and liquidity risk management, Northern Trust today announced an agreement with Donnelley Financial Solutions that will provide fund administration clients with an automated process for the collection, creation, review and filing of disclosure documents.
Under the agreement, Northern Trust will use Donnelley Financial’s ArcFiling solution to generate and submit the new N-PORT and N-CEN forms required under the reporting modernization rules as adopted by the Securities and Exchange Commission. The rules require U.S. mutual funds and other registered investment funds to disclose more extensive information in these forms while modernizing the format in which data is collected to enhance the SEC’s risk analysis capabilities. The data reporting rules, along with new liquidity requirements, will be implemented in 2018 in accordance with the SEC requirements.
“Northern Trust continually looks for ways to enhance our processes to help clients comply with regulatory rules,” said Dan Houlihan, head of Americas Global Fund Services at Northern Trust. “With the ArcFiling tool, we will be able to streamline automated and efficient filing processes for our clients. This allows our clients to focus on the liquidity risk management programs for their funds.”
The new reporting requirements will increase the volume and frequency of data collected, making an efficient process vital. The ArcFiling tool allows Northern Trust to better manage the data, form generation, review and sign off process as well as final submission of the forms in the required XML format to the SEC.
“We are very pleased to have the opportunity to meet the SEC modernization filing requirements of Northern Trust and its mutual fund clients,” said Eric Johnson, President of Global Investment Markets at Donnelley Financial Solutions. “Our ArcFiling solution is designed to make it easier and more efficient for administrators and funds to manage the significant, monthly volume that N-PORT will introduce.”
About Donnelley Financial Solutions
Donnelley Financial Solutions (NYSE: DFIN) provides software and services that enable clients to communicate with confidence in a complex regulatory environment. With 3,500 employees in 61 locations across 18 countries, we provide thousands of clients globally with innovative tools for content creation, management and distribution, as well as data analytics and multi-lingual localization services. Leveraging advanced technology, deep-domain expertise and 24/7 support, we deliver cost-effective solutions to meet the evolving needs of our clients. For more information about Donnelley Financial Solutions, visit dfsco.com.
About Northern Trust
Northern Trust Corporation (Nasdaq: NTRS) is a leading provider of wealth management, asset servicing, asset management and banking to corporations, institutions, affluent families and individuals. Founded in Chicago in 1889, Northern Trust has offices in the United States in 19 states and Washington, D.C., and 22 international locations in Canada, Europe, the Middle East and the Asia-Pacific region. As of March 31, 2017, Northern Trust had assets under custody of US$7.1 trillion, and assets under management of US$1 trillion. For more than 125 years, Northern Trust has earned distinction as an industry leader for exceptional service, financial expertise, integrity and innovation. Visit northerntrust.com or follow us on Twitter @NorthernTrust.
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