The recent Money Market Mutual Fund Reform Rule has changed the frequency, content and format of Portfolio Holdings reporting that money market mutual funds are required to file with the SEC. This new ruling, which goes into effect December 7th, 2010, will dramatically increase the frequency of required filings, potentially placing extra burden on existing resources. Additionally strict monthly deadlines, specific reporting requirements and new XML filing processes create even more compliance challenges.
Specifically, the new rule requires funds to:
- Report monthly Portfolio Holdings to the SEC via EDGAR, in addition to the existing quarterly filings
- Disclose to the SEC by the fifth business day of the month, for each 60 day reporting period
- Increase the level of reporting on fund-specific data, currently not required
- Tag and file Form N-MFP in XML format
- Publish a PDF of the XML filing to the fund website
Merrill simplifies the Form N-MFP filing process through a web-based solution which complies with the new tagging, filing and publishing requirements in an automated process. Combined with Merrill’s strategic insight, advanced technology and proven processes, you will realize accurate, on-time filings compliant with all current regulations.
With Merrill Corporation’s solution you will realize:
- Seamless integration with your existing reporting systems to import data
- Data conversion that automatically validates the XML file, ensuring accurate filings
- Direct filing with the SEC, including a PDF rendering for website publishing
- Easy and convenient user access via a web-based application
- File storage for information reuse
Look to Merrill’s technology-enabled solutions to efficiently and effectively help you meet all your regulatory and business requirements. Serving the money market mutual fund industry for decades, our industry leading processes and solutions are designed specifically to simplify regulated communication challenges, while providing confidence to our clients.
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