Automated data management software provider Confluence plans to enhance its support of the Securities and Exchange Commission’s forthcoming release of a new Edgar XML filing specification by automating SEC Form N-SAR XML content.
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Through enhancements to its Unity Regulatory Reporting N-SAR offering, the Confluence product 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 Confluence executive vice president of product development Skip Smith. “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.”
SEC Form N-SAR is a filing that is specific to registered investment management companies, and requires that those companies disclose some financial information including sales of shares, portfolio turnover rate. The information is usually included in the company's shareholder reports.