New SEC filing deadline met by Confluence clients 04 June 2019Pittsburgh Reporter: Rebecca Delaney
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Confluence clients have complied with Form N-PORT filing requirements by implementing its Unity NXT regulatory reporting solution.
The provider of investment data management products and services for financial, investor and regulatory reporting cited that all of its clients with 30 May deadlines had successfully completed their filings.
The clients, primarily asset managers and fund administrators, were required to meet the deadline, according to new Securities and Exchange Commission (SEC) procedures, implemented in March.
The modifications determined that funds would file three monthly reports in succession up to 60 days after the end of each fiscal quarter, as opposed to submitting monthly reports up to 30 days after each month-end.
Confluence attributed the success of its clients in meeting the new submission requirements to its Unity NXT regulatory reporting solution, originally developed in an attempt to mitigate potential data management issues.
The solution allows clients to centralise various processes into a “controlled system”.
Furthermore, Confluence stated that it worked closely with clients to ensure successful filings by mapping source data and conducting test filings.
Gary Casagrande, Confluence’s vice president of global market strategy, said: “We have had an amazing response from our clients as we worked together to meet this deadline.”
He added: “We are so appreciative of our client relationships and are fortunate to be able to partner with them throughout the process of preparing for these new SEC reporting requirements.”
“We are pleased to be the partner of choice for so many firms and pride ourselves on ensuring that our solutions evolve with the needs of the industry.”
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