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5 things to look for in a Form PF solution

To keep up with the SEC’s changing requirements for Form PF reporting, many fund managers are seeking a reporting tool.


Using a reporting platform can support your quarterly and annual SEC filings

When looking for a Form PF solution, make sure to look for these following five features:

Integrated templates

Much of the data required for Form PF is likely to exist across your business already. Linking this together in Excel templates with the SEC’s validation rules built-in is a fast and efficient way to work collaboratively on your returns. Make sure that you can link to existing sheets with your Form PF solutions, and that you can oversee changes with workflow approval on your document.

XML conversion

In the last 10 years, regulators worldwide have started enforcing mandatory file formats for reporting. Where Excel files zipped and e-mailed were accepted in the past, files must now be submitted in specific document types such as .XML or .XBRL. Whilst manually keying in data to FINRA is an option for filing Form PF in 2017, it is possible that the .XML format will become mandatory, and firms will need to have a familiar process and solution in place. You can future proof your organisation by being one step ahead of the regulators and converting your linked templates into a computer readable format for your next deadline.

Cost effective

Filing to FINRA manually is a time-consuming process. Using a familiar Excel template and converting to XML via an online portal can save you hours or even days every quarter. As a mandatory requirement, Form PF should be as pain-free, efficient and cost neutral as possible, and your system should support you in meeting these three criteria.

Up-to-date requirements

The Form PF requirements update frequently, with 2017 already showing an increased focus on fund level expenses and fees. Keeping track of these whilst running your day to day business is a challenge, so it’s important to utilise a Form PF solution which automatically updates with the latest taxonomies whenever the regulations change.

Expert support

Form PF is a challenging filing requirement, even with integrated validation rules and roll forward functionality. Make sure that your providers have in-house regulatory experts who meet regularly with both the national and central regulatory bodies, and an expert support team to advice on feature functionality.

If you’re looking for support with your Form PF filings this year, you can find out more here or e-mail me to get in touch.