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August 1, 2017 TO: Accounting/Treasurers CommitteeSEC Rules Committee RE: Updates to ICI's Investment Company Reporting Modernization Resource Center
We recently updated ICI’s Investment Company Reporting Modernization Resource Center to include additional materials that will assist members in understanding and implementing the SEC’s new enhanced fund reporting rules.[1] The Resource Center now includes links to the SEC staff’s recently issued, initial set of Frequently Asked Questions (FAQs), draft XML schemas for Forms N-PORT and N-CEN, and an updated set of internal member questions and answers. These new materials supplement resources that were already available on the Resource Center, including links to several proposed FAQs submitted to the SEC staff, many of which served as the basis for the SEC staff’s initial FAQs, and links to videos of conference panels and materials.
ICI staff prepared the internal member questions and answers, and the proposed FAQs, based on discussions with members of ICI’s Enhanced Fund Reporting Working Group. The Working Group, which includes representatives from many ICI member firms, continues to meet monthly by phone and provides a forum for member firms to discuss legal, compliance, and operational issues that they are encountering during implementation. If you would like to join the Working Group, please contact any of us.
Sarah A. Bessin
Associate General Counsel
Kenneth Fang
Assistant General Counsel
Gregory M. Smith
Senior Director, Fund Accounting and Compliance
endnotes
[1] See ICI Investment Company Reporting Modernization Resource Center, available at https://www.ici.org/modernization. See also Institute Memorandum No. 30477 (Dec. 13, 2016), available at https://www.ici.org/my_ici/memorandum/memo30477.