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GAO-17-269R 1 (2016-12-05)

handle is hein.gao/gaobadsyf0001 and id is 1 raw text is: GAOU.S. GOVERNMENT ACCOUNTABILITY OFFICE 441 G St. N.W. Washington, DC 20548 B-328606 December 5, 2016 The Honorable Richard Shelby Chairman The Honorable Sherrod Brown Ranking Member Committee on Banking, Housing, and Urban Affairs United States Senate The Honorable Jeb Hensarling Chairman The Honorable Maxine Waters Ranking Member Committee on Financial Services House of Representatives Subject: Securities and Exchange Commission: Investment Company Reporting Modernization Pursuant to section 801 (a)(2)(A) of title 5, United States Code, this is our report on a major rule promulgated by the Securities and Exchange Commission (the Commission) entitled Investment Company Reporting Modernization (RIN: 3235-AL42). We received the rule on October 19, 2016. It was published in the Federal Register as a final rule on November 18, 2016. 81 Fed. Reg. 81,870. The final rule is effective January 17, 2017, except for the amendments specified in the rule, which are effective June 1, 2018. The final rule adopts new rules and forms as well as amendments to the Commission's rules and forms in order to modernize the reporting and disclosure of information by registered investment companies. For example, the Commission is adopting new Form N-PORT, which will require certain registered investment companies to report information about their monthly portfolio holdings to the Commission in a structured data format. Enclosed is our assessment of the Commission's compliance with the procedural steps required by section 801 (a)(1)(B)(i) through (iv) of title 5 with respect to the rule. Our review of the procedural steps taken indicates that the Commission complied with the applicable requirements. GAO-17-269R

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