SEC proposes extended Form N-PORT deadlines and return to quarterly reporting for US registered funds

On February 18, the Securities and Exchange Commission (SEC) published proposed amendments to Form N-PORT reporting requirements for certain registered investment companies.  

The SEC’s proposal would apply to registered open-end funds, registered closed-end funds, and exchange-traded funds organized as unit investment trusts, and would modify Form N-PORT provisions adopted in 2024 to give these funds an additional 15 days to file their monthly portfolio-related reports. The Commission also proposes to restore the quarterly publication frequency for Form N-PORT data that had been in place for more than two decades, reversing the more frequent public release adopted in 2024.  

In its US rulemaking proposal, the SEC states that the amendments are being advanced in light of feedback from market participants and other developments, and that they are designed to streamline or remove certain items and sub-items on Form N-PORT, reducing reporting burdens in ways that would not significantly affect the Commission’s uses of the data. Changes are not expected to significantly affect the public’s ability to assess relevant information about a fund.

Separately, the Commission proposes to change how funds with share classes that operate as exchange-traded funds report certain information on Form N-PORT to improve information about this structure, and to require reporting of funds’ ticker symbols and certain class-level identifiers, where applicable, to facilitate more efficient use of the reported information by the SEC and other users.