July 18, 2012
-- Advise Technologies LLC, a regulatory reporting solutions provider, today announced that its clients successfully filed Form PF for their liquidity funds. July 16, 2012, was the first deadline for investment advisers of over $5 billion in combined regulatory assets under management (RAUM) attributable to liquidity funds and registered money market funds to file Form PF for their liquidity funds with the Securities and Exchange Commission (SEC). On August 29, 2012, investment advisers with RAUM of this size must be prepared to comply with this entirely new process and reporting deadline for the majority of their remaining private funds.
Form PF is part of the Dodd-Frank Act that requires private fund advisers registered with the SEC to submit reports containing risk exposure information and other statistical details to the regulator. The goal is to give regulators insight into systemic risk in addition to regulatory oversight of individual firms.
Advise offers a suite of Form PF solutions featuring error checking, workflow, standard and custom reports, multiple means of data entry, audit trail, data storage, and electronic form submission. With products ranging from desktop software to a complete start-to-finish solution, Advise's product suite provides the flexibility to meet any fund's filing needs.
“Regulatory reporting is increasingly global, and the successful completion of the first wave of Form PF filers is just the beginning,” said Doug Schwenk, President & CEO, Advise Technologies. “For even the most sophisticated funds, Form PF compliance represents an entirely new process for compiling information across multiple systems and data sets. Firms need to institutionalize their processes and systems to ensure consistent, reliable reporting along with the proper processes and controls.”
About Advise Technologies
Advise Technologies, LLC, is a premier provider of compliance solutions for private funds, including hedge fund and private equity fund managers. Started by a core group of private fund and technology professionals in 2010, Advise Technologies has been at the forefront of solutions to challenges posed to managers by the changing global regulatory environment. The Advise Technologies product line includes solutions for Forms PF, CPO-PQR, and CTA-PR. The firm is headquartered in New York. For more information, please visit www.AdviseTechnologies.com.