This site uses cookies to provide you with a more responsive and personalised service. By using this site you agree to our use of cookies. Please read our cookie notice for more information on the cookies we use and how to delete or block them.
The full functionality of our site is not supported on your browser version, or you may have 'compatibility mode' selected. Please turn off compatibility mode, upgrade your browser to at least Internet Explorer 9, or try using another browser such as Google Chrome or Mozilla Firefox.

U.S. comment letter on investment company reporting modernization

Published on: Aug 12, 2015

Deloitte & Touche LLP comments on the SEC’s proposed rule, Investment Company Reporting Modernization, issued on May 20, 2015.

An excerpt from the comment letter is shown below:

We support the SEC’s objective to improve the information that investment companies report to the Commission and investors to better fulfill its mission of protecting investors; maintaining fair, orderly, and efficient markets; and facilitating capital formation. In general, improved transparency benefits all market participants and, most importantly, stands to help investors to make more informed investment decisions.

We believe that the proposed rule related to the Commission’s modernization project is consistent with the SEC’s stated objective of improving the type and format of information regarding fund activities that investment companies provide to the Commission and investors to assist the Commission in its role as primary regulator and aid investors in their analysis. We have comments, however, that we offer to help ensure that the final rule amendments that are ultimately adopted result in information that is timely, useful, and meaningful as well as clear to investors and other potential users of this information.

From our vantage point as a registered public accounting firm, we offer the following comments related to the proposed amendments to Regulation S-X concerning accounting and disclosure requirements for registered investment companies and BDCs. We have also included one item for consideration regarding an aspect of Form N-PORT.

Full text of the comment letter is available below.


Correction list for hyphenation

These words serve as exceptions. Once entered, they are only hyphenated at the specified hyphenation points. Each word should be on a separate line.