On August 28th, the SEC adopted rules to amend reporting requirements on Form N-PORT that would offer the SEC and investors with greater and more timely information about certain registered investment companies (funds). Form N-PORT reports provide the SEC and the public with important information about a fund’s portfolio holdings and related information to help evaluate a fund’s risks. These reports also promote efficacy in regulatory monitoring and oversight of the fund industry, which benefits fund investors.
The amendments will:
- triple the amount of Form N-PORT data available to investors annually, improving investors’ ability to assess and oversee data pertaining to their funds’ portfolios
- update certain reporting requirements relating to entity identifiers
Additionally, the SEC provided guidance related to certain aspects of open-end fund liquidity risk management program requirements to address concerns expressed through outreach and monitoring. The rule requires open-end funds to report information about service providers used to comply with liquidity risk management program requirements.
For further details on the amendments and guidance, please see the Form N-PORT and Form N-CEN Reporting; Guidance on Open-End Fund Liquidity Risk Management Programs final rule on the SEC’s website. The rule will go into effect on November 17, 2025. Most funds will be required to comply with the amendments for reports filed on or after November 17, 2025, excepting fund groups with net assets of less than $1 billion which must comply with the Form N-PORT amendments by May 18, 2026.
Source:
SEC Adopts Reporting Enhancements for Registered Investment Companies and Provides Guidance on Open-End Fund Liquidity Risk Management Programs (sec.gov)
