Advise Technologies, a compliance software provider, will offer a CPO-PQR e-filing platform to the National Futures Association (NFA) EasyFile portal. This will be the first time that filing electronically is possible for Form CPO-PQR.
The CPO-PQR add-on module is featured as part of Advise's Consensus RMS platform, the regulatory and investor reporting platform that allows firms to generate Form CPO-PQR, Form PF, and Open Protocol Enabling Risk Aggregation (OPERA) reporting from a single set of data. Support for CTA-PR, Treasury International Capital (TIC), Alternative Investment Fund Managers Directive (AIFMD) and other regulatory and investor reporting requirements is planned for release later this year.
Last February, the Commodity Futures Trading Commission (CFTC) issued final rules on registration and reporting requirements for CPOs. For entities that are already registered with both the CFTC and the Securities and Exchange Commission (SEC), the new form will be supplemental to Form PF. Advisers with at least $1.5 billion AUM will be required to file Form CPO-PQR on a quarterly basis within 60 days of the end of each calendar quarter, while advisers with less than $1.5 billion AUM will only need to file annually within 90 days of the end of each calendar year.
"Regulators have made a conscious effort to increase transparency across the financial landscape over the past several years, which has led to cumbersome requirements for investment advisers," says Doug Schwenk, CEO of Advise Technologies. "The ability to e-file with Consensus RMS will drastically alleviate the pains of filing, while helping firms eliminate the errors often associated with manual processes."
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