Compliance Dates - Fourth Quarter

Compliance Deadlines There are many regulatory filings and compliance forms that investment managers need to complete throughout the year.  Below is a list of some of the key compliance dates for the remainder of 2015. Please note that this is general advice that is applicable to most investment managers with a December 31st fiscal year end. This list is not exhaustive and contains some best practice compliance suggestions.

October 30, 2015

Access Person Quarterly Transaction Reports.  Collect quarterly reports from access persons for their personal securities transactions

November 16, 2015

Form 13F.  File any required Form 13F with the SEC.

Commodity Trading Advisors (CTA) Form PR.  File, as necessary, with the NFA.

State Notice Filings and Fees.  Submit any required notice filings with all appropriate states, which typically are made through the IARD system, and pay an annual fee.

November 30, 2015[1]

Quarterly Employee Compliance Training.  Conduct a quarterly employee training session to review requirements under the adviser's written compliance policies and procedures, including the code of ethics, as well as any material changes to these materials.  Maintain list of attendance.

N.Q. Required by registered investment companies as of September 30, 2015.

Cybersecurity Training [best practice].  Conduct periodic training.

Pooled Quarterly Report (PQR)(For Registered Commodity Pool Operators). Quarterly financial reports to be filed using NFA Easy File System.

December 31, 2015

Form 13H.  Review material changes transactions and assess whether Form 13H needs to be amended.

Form PF.  Review assets/holdings thresholds to determine filing requirements.

Form 40. Every trader who holds or controls a reportable futures position must file Form 40 with the CFTC by the deadline specified by the CFTC. If Form 40 is required, certain additional books and records requirements apply.

Annual Pricing Mailing Best Execution Review [best practice].  Conduct periodic review, as necessary.

 

If you have any questions about this Alert, please contact Daniel G. Viola at 212.573.8038 or dviola@sglawyers.com

[1]  The Investment Advisers Act of 1940 does not specify when training should occur.  A registered adviser must obtain signed acknowledgements of changes to its code of ethics as well as compliance with other specific policies.  Since an adviser's compliance policies and procedures may be amended from time-to-time, quarterly training assists an adviser in maintaining an effective compliance program.

Cheryl Spratt