Technology Leader Prepares to Automate EDGAR XML Content Filing
Confluence, a leading provider of automated data management solutions for the investment management industry, have announced plans to enhance their support of the Securities and Exchange Commission’s (SEC) forthcoming release of a new EDGAR XML filing specification. In addition to an already released N-SAR answer file conversion tool, Confluence plans to enhance their Unity® Regulatory Reporting N-SAR solution to automatically file N-SAR XML content and associated attachments in the first quarter of 2013.
The enhancements to Unity Regulatory Reporting: N-SAR will provide support for the SEC EDGAR release being introduced to replace the current DOS filing process with an XML file transfer. Unity Regulatory Reporting N-SAR will automate the XML filing according to the new EDGAR technical specification, which is currently in draft form. It is expected to go live, at the earliest, during the fourth quarter of 2012.
“Our clients rely on our expertise as a technology provider to deliver innovative solutions to deal with tough regulatory reporting challenges,” said Skip Smith, Executive Vice President of Product Development for Confluence. “With the introduction of new XML filing requirements, regulatory reporting is becoming increasingly complex for fund administrators. The Unity Regulatory Reporting N-SAR EDGAR XML automated filing solution will save our clients time while eliminating the risk of error of manually entering the data.”
Gregg Smith, Director of Product Design made the announcement as part of a breakfast briefing at the 2012 ICI Tax & Accounting Conference in Orlando, Florida. Entitled “Operational Risks and Challenges Facing Fund Administrators Today,” the breakfast briefing also included expert updates from PwC Senior Managers Heather Bonner and Colleen Simms, who discussed multiple accounting standard updates and a status on money market reform.