Industry News

David Bates Weighs In on Benefits of Data Reporting Compliance


Operations and compliance teams racing to prepare for new SEC reporting requirements that take effect next year may have headaches now, but shops that do it well stand to reap big rewards long-term.

The rule, which the regulator made final late last year, dramatically increases the amount of data fund companies are required to report and changes the frequency with which they are required to do so. With the first deadline for shops to meet these new requirements approaching June 2018, many fund shops have been prompted to build or improve the systems they use to store, report and analyze data.

That creates an opportunity to step back and think of the business opportunities they can gain with improved data systems, consultants say. A well-built data system can help fund shops identify areas of product demand they may be neglecting and can be used to attract new clients.

Providing comprehensive data reports to shops' distribution, operations, and investment teams can provide "better visibility into assets" and may trigger new business ideas, says Citisoft's David Bates. Armed with such information, staff might see trends in product types or strategies that then yield ideas of how to adapt existing products to better cater to client needs or even develop new ones. For more insight on how a future-minded approach to complying with the SEC requirements can create business opportunities, read the full article.

Subscribe to monthly newsletter