RIA Compliance and Practice Management Blog

What You Need to Know About the SEC's Amendments to 13F Filings

Posted by RIA in a Box

Jul 14, 2022 5:04:22 PM

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A new Securities and Exchange Commission ("SEC") amendment to Form 13F filings, proposed in November 2021 and passed in June 2022, will require investment advisers, institutional investors and others who submit such forms to the SEC to do so electronically.

According to a statement made by SEC Chair Gary Gensler, the new electronic filing requirements will affect three types of filings previously submitted on paper – confidential treatment requests for Form 13F, applications under the Investment Advisers Act of 1940 (Advisers Act) and Form ADV-NR. The first two of these will now be submitted to our Electronic Data, Gathering, Analysis and Retrieval ("EDGAR") system. Form ADV-NR will now be submitted to the Investment Adviser Registration Depository ("IARD") system.

Everything you need to know about the new amendment regarding Form ADV-NR and Form 13F filing

In recent months, the SEC has approved multiple electronic filing amendments, in an effort to, as the Commission has said ,“moderniz[e] how information is filed or submitted…[and] address logistical and operational issues raised by the spread of COVID-19.”

So, how will this affect your registered investment adviser (RIA) firm? And what is the critical information for you to know?

  1. The effective date for the amendments and rulings is August 29, 2022 – with an exception.

While most amendments and rules go into effect 60 days after approval, the SEC has provided a longer transition period for the amendments to Form 13F filing, which will go into effect Jan. 3, 2023.

  1. The amendment impacts multiple forms and filings.

As reported from the SEC, The rule and form amendments will require the electronic filing or submission of:

  • Applications for orders under the Advisers Act on EDGAR.
  • Confidential treatment requests for Form 13F filings on EDGAR.
  • Form ADV-NR (through the IARD system).

In addition to the above requirements, the amendment included optional reporting of a Financial Instrument Global Identifier (FIGI) for any security reported on Form 13F, as well as certain technical amendments to Form 13F which enhance the information reported.

  1. Help is available!

RIA in a Box assists clients with additional RIA regulatory filings, including Form 13F for institutional investment managers and Form ADV-NR for certain foreign advisers.

With the SEC making continued strides toward modernizing their form filings, now is the time to update your processes. Schedule a demo today to learn how RIA in a Box’s solutions and service can benefit your compliance program.

Download the Comprehensive Guide to RIA Compliance


Topics: RIA Operations, RIA Compliance, RIA Technology

RIA in a Box LLC is not a law firm, investment advisory firm, or CPA firm. RIA in a Box LLC does not provide legal advice or opinions to any party or client. You should always consult your relevant regulatory authorities or legal counsel if applicable.

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