SEC adopts Form N-PORT reporting requirements amendments
02 September 2024 US
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The Securities and Exchange Commission (SEC) has adopted amendments to reporting requirements on Form N-PORT to provide the commission and investors with more timely information about certain registered investment companies.
Form N-PORT reports provide important information about a fund’s portfolio holdings and related information to help assess the fund’s risks.
The amendments will provide the SEC with timelier information about funds’ portfolio investments, which will promote more effective regulatory monitoring and oversight of the fund industry for the benefit of fund investors.
The amendments will also triple the amount of Form N-PORT data available to investors in a given year, enhancing investors’ ability to review and monitor information about their funds’ portfolios, the SEC says.
SEC chair Gary Gensler says: “Reliable, accessible data benefits everyone. These amendments will benefit investors through greater transparency of funds’ investment portfolios and improve the commission’s oversight of the asset management industry.”
The amendments will require funds to file reports on Form N-PORT monthly within 30 days after the end of the month to which they relate.
This generally concerns registered open-end funds, registered closed-end funds, and exchange traded funds (ETFs) organised as unit investment trusts.
Currently, funds file these monthly reports every quarter within 60 days after quarter end.
The amendments will also make funds’ monthly reports on Form N-PORT available to the public 60 days after the end of each month instead of every third month of a quarter only.
In addition, the SEC adopted reporting amendments and provided guidance related to open-end fund liquidity risk management programme requirements.
Specifically, the commission adopted amendments to Form N-CEN requiring open-end funds to report certain information about service providers used to fulfil liquidity risk management programme requirements so that the SEC can track certain liquidity risk management practices.
The commission also provided guidance related to certain aspects of open-end fund liquidity risk management programme requirements to address questions raised through outreach and monitoring.
The amendments to Forms N-PORT and N-CEN will become effective on 17 November 2025, funds will have to comply with the amendments for reports filed on or after that date.
This does not include those fund groups with net assets of less than US$1 billion which will have until 18 May 2026 to comply with the Form N-PORT amendments.
Form N-PORT reports provide important information about a fund’s portfolio holdings and related information to help assess the fund’s risks.
The amendments will provide the SEC with timelier information about funds’ portfolio investments, which will promote more effective regulatory monitoring and oversight of the fund industry for the benefit of fund investors.
The amendments will also triple the amount of Form N-PORT data available to investors in a given year, enhancing investors’ ability to review and monitor information about their funds’ portfolios, the SEC says.
SEC chair Gary Gensler says: “Reliable, accessible data benefits everyone. These amendments will benefit investors through greater transparency of funds’ investment portfolios and improve the commission’s oversight of the asset management industry.”
The amendments will require funds to file reports on Form N-PORT monthly within 30 days after the end of the month to which they relate.
This generally concerns registered open-end funds, registered closed-end funds, and exchange traded funds (ETFs) organised as unit investment trusts.
Currently, funds file these monthly reports every quarter within 60 days after quarter end.
The amendments will also make funds’ monthly reports on Form N-PORT available to the public 60 days after the end of each month instead of every third month of a quarter only.
In addition, the SEC adopted reporting amendments and provided guidance related to open-end fund liquidity risk management programme requirements.
Specifically, the commission adopted amendments to Form N-CEN requiring open-end funds to report certain information about service providers used to fulfil liquidity risk management programme requirements so that the SEC can track certain liquidity risk management practices.
The commission also provided guidance related to certain aspects of open-end fund liquidity risk management programme requirements to address questions raised through outreach and monitoring.
The amendments to Forms N-PORT and N-CEN will become effective on 17 November 2025, funds will have to comply with the amendments for reports filed on or after that date.
This does not include those fund groups with net assets of less than US$1 billion which will have until 18 May 2026 to comply with the Form N-PORT amendments.
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