State Street’s New CFTC Reporting Service Helps Clients Fulfill CFTC Requirements
January 07 2013 - 9:00AM
Business Wire
State Street Corporation (NYSE: STT) announced today that it has
developed a suite of services to assist clients with compliance
testing and reporting requirements for the Commodity Futures Trade
Commission’s (CFTC) rule amendments announced last year. The new
service offerings will help investment companies registered under
the Investment Company Act of 1940 (1940 Act) and private
investment vehicles comply with new CFTC rules impacting funds that
invest in certain derivative instruments.
The amendments to the CFTC rules require investment advisers
that are considered to be a commodity pool operator (CPO) to
register with the CFTC unless the CPO qualifies for one of the
exemptions outlined by the CFTC.
“With increased industry-wide focus on transparency coupled with
a complex market environment, we are focused on working with our
clients to help them comply with the evolving regulatory
landscape,” said Keith Slattery, senior vice president at State
Street. “Our experienced compliance and fund administration team
offers the scale and expertise necessary to assist clients in
meeting complex regulatory requirements in a timely manner so they
can focus on their core business.”
State Street’s CFTC services include initial diagnostic testing
to help clients determine if they qualify for de minimus exemptions
from the CFTC’s required registration as a CPO. The new offering
also provides clients with daily compliance testing and filing of
annual notices for those clients claiming an exemption; monthly or
quarterly financial statements, enhanced prospectus financial data
and provision of data for Form CPO-PQR reporting for those clients
whose advisers are designated as a CPO.
About State Street
State Street Corporation (NYSE: STT) is one of the world's
leading provider of financial services to institutional investors
including investment servicing, investment management and
investment research and trading. With $23.4 trillion in assets
under custody and administration and $2.1 trillion in assets under
management at September 30, 2012, State Street operates in 26
countries and more than 100 geographic markets. For more
information, visit State Street’s web site at
www.statestreet.com.
*This AUM includes the assets of the SPDR Gold Trust (approx.
$75.3 billion as of September 30, 2012), for which State Street
Global Markets, LLC, an affiliate of State Street Global Advisors
serves as the marketing agent
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