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SEC adopts rules and forms to modernize reporting requirements for registered investment companies

Stephen Cohen (Washington, DC office of Dechert LLP)
Megan Johnson (Washington, DC office of Dechert LLP)
Gary Brooks (Washington, DC office of Dechert LLP)
Brooke Higgs (Washington, DC office of Dechert LLP)

Journal of Investment Compliance

ISSN: 1528-5812

Article publication date: 2 May 2017




To explain the new rules, forms, and amendments to current rules and forms (Final Rule) that the Securities and Exchange Commission (SEC) has adopted to modernize the reporting of information provided by registered investment companies (funds) and to improve the quality and type of information that funds provide to the SEC and investors.


Discusses the background leading up to the Final Rule, provides an overview and summary of the Final Rule’s key components, and highlights issues that may be raised by the new reporting regime.


The Final Rule will have a significant effect on many funds. Funds will experience a substantially increased reporting burden with respect to both the frequency of reporting and the granularity of information required.

Practical implications

Fund managers and fund service providers should begin to evaluate the impact of the Final Rule, the processes that will need to be implemented to prepare filings on new forms, and the changes in fund disclosure practices that will be required in response to the amendments to certain forms.


Practical guidance from financial services lawyers specializing in the investment management industry.



Editor’s Note: The authors would like to thank Kimberly Thomasson for her contributions to this article.


Cohen, S., Johnson, M., Brooks, G. and Higgs, B. (2017), "SEC adopts rules and forms to modernize reporting requirements for registered investment companies", Journal of Investment Compliance, Vol. 18 No. 1, pp. 25-42.



Emerald Publishing Limited

Copyright © 2017, Dechert LLP 2016

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