Bloomberg, Advise Tech Ally for SEC 22e-4 Reporting
The partnership will help mutual fund clients calculate the liquidity risk they must report under the new SEC 22e-4 rule.
The rule, which comes into force next year as part of the SEC’s modernization rules, requires open-ended funds to classify assets into tiers based on how liquid they are (i.e., how quickly they can be converted to cash). To help firms complete this reporting, Bloomberg has integrated its LQA portfolio liquidity risk analytics tool with the Form N-PORT module in Advise Technologies’ Consensus RMS platform, providing a “complete workflow solution” for both vendors’ clients to comply with the regulation, officials say.
“With rigorous reporting requirements and a 2018 deadline, firms are trying to find ways to automate Form N-PORT and N-CEN reporting. By combining Advise’s proven reporting solution and Bloomberg’s use of machine learning to estimate liquidity risk, we are ready to help firms meet their obligations,” says Ethan Wishnick, managing director for SEC Reporting Modernization at Advise Technologies.
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