The modules will help commodity pool operators and commodity trading advisers stay compliant with upcoming reporting deadlines.
Advise Technologies, a compliance software provider, has launched a CPO-PQR and CTA-PR reporting module for its Consensus RMS suite of regulatory reporting solutions.
Forms CPO-PQR and CTA-PR are new reporting requirements for US Commodity Futures Trading Commission (CFTC) registered commodity pool operators (CPOs) and commodity trading advisers (CTAs) respectively, and represent the next wave in the global trend of required disclosures on the part of private fund advisers. Advisers registered with both the CFTC and the US Securities and Exchange Commission (SEC) will need to comply with this requirement in addition to Form PF. The goal of such requirements is to give regulators better oversight of individual funds as well as more visibility into systemic risk for the industry overall.
The first deadline for Form CPO-PQR is November 29, 2012, when CPOs with greater than $5 billion in assets under management (AUM) need to file for the quarter ending September 30, 2012. The remaining registered CPOs will need to file the form starting in March 2013. The first filing deadline for CTAs to file the annually required Form CTA-PR is February 14, 2013, for the fiscal year ending December 31, 2012.
"Forms CPO-PQR and CTA-PR are related to Form PF in many ways, but they each have their own idiosyncrasies - which translates into a bigger headache for fund advisers," says Doug Schwenk, founder and CEO of Advise. "Automating the process is the only way to ensure consistent results, and not have this be a distraction from the manager's core business."
The CPO-PQR and CTA-PR modules were developed to enable CPOs and CTAs to interpret, aggregate and normalize pool data from disparate sources into one centralized location in order to file the required forms. The Consensus RMS suite features a calculation engine, automated data input, error checking, workflow and permissioning controls, standard and custom reports, audit trail, and data storage.
James talks about his trip to Chicago and some of the interesting topics that came up (including a look at disaster recovery demands). Then Anthony and James touch on ISDA's initial margin rules, with Phase 3 going live next year.Subscribe to Weekly Wrap emails