Investment advisers now able to file electronically for the first time through NFA EasyFile portal
New York, NY, April 24, 2013 — Advise Technologies, LLC, a software solutions provider for global regulatory compliance, today announced that it will offer the first 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.
Advise has worked closely with the NFA and several clients in the NFA’s pilot e-filing program. Following successful testing in the pilot program, the CPO-PQR add-on module is featured as part of Advise’s Consensus RMS platform and provides commodity pool operators (CPOs) an efficient and secure resource for filing Form CPO-PQR.
Consensus RMS is a global 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, providing operational efficiency and ensuring the consistency required by regulators. Used by over half of the first-round Form PF hedge fund and private equity filers, with direct clients representing over $1 trillion in hedge fund assets, $48 billion in private equity assets, and $14 billion in other private funds, Consensus RMS is a proven solution that ensures a repeatable and reliable reporting process. 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. Similar to Form PF filing guidelines, the amount of information collected and the timing of each report varies according to the firm’s assets under management (AUM). 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,” said 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.”
About Advise Technologies, LLC Advise Technologies, LLC provides proven software solutions that facilitate regulatory compliance for private fund managers and their service providers. Through its Consensus RMS suite of desktop and enterprise-grade solutions, Advise supports a full range of global regulatory reporting including Form PF, CPO-PQR and CTA-PR in the United States and the AIFM Directive in the European Union. The firm also provides a complete document management system through its Vault DMS suite which helps locate, track and automate key documents, respond to regulatory exams, and comply with FATCA. Built by financial industry veterans, Advise empowers clients to automate traditionally resource-intensive and error-prone processes to ensure intuitive, fast, and cost effective electronic regulatory reporting and document management. The firm is headquartered in New York. For more information, please visit www.AdviseTechnologies.com.
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