The Securities and Exchange Commission (SEC) has implemented amendments to reporting requirements on Form N-PORT, aiming to provide the Commission and investors with more timely and comprehensive information about registered investment companies, commonly known as funds. These amendments will play a crucial role in assessing a fund's risks by offering valuable insights into its portfolio holdings and related data.

The primary objective of the amendments is to equip the Commission with timelier information concerning funds' portfolio investments, which, in turn, will facilitate more effective regulatory monitoring and oversight of the fund industry. This move is seen as a significant step forward in safeguarding the interests of fund investors.

Under the newly adopted amendments, the amount of data available to investors via Form N-PORT will be tripled in a given year. This substantial increase in available information will significantly enhance investors' ability to review and monitor details about their funds' portfolios, enabling them to make well-informed investment decisions.

SEC Chair, Gary Gensler, emphasized the importance of reliable and accessible data, stressing that these amendments will not only benefit investors through enhanced transparency but also serve as a means to improve the Commission's oversight of the asset management industry.

The amendments to Form N-PORT necessitate funds such as registered open-end funds, registered closed-end funds, and exchange-traded funds organized as unit investment trusts to file reports on a monthly basis. The reports must be submitted within 30 days after the end of the month to which they pertain. Previously, funds filed these reports quarterly, within 60 days after the quarter-end. By requiring monthly reporting, the amendments will enable more up-to-date access to information.

Additionally, in an effort to track liquidity risk management practices, the Commission has introduced reporting amendments to Form N-CEN for open-end funds. This requires them to disclose certain information about service providers utilized to fulfill liquidity risk management program requirements. The Commission has also provided guidance on specific aspects of open-end fund liquidity risk management program requirements, addressing concerns raised through outreach and monitoring.

Effective from November 17, 2025, the amendments to Forms N-PORT and N-CEN will be implemented. From that date onwards, funds will be obligated to comply with these amendments for reports filed. However, it's important to note that fund groups with net assets of less than $1 billion will have until May 18, 2026, to comply with the Form N-PORT amendments.

With these proactive measures, the SEC aims to strengthen transparency, increase investor confidence, and promote effective regulatory oversight within the fund industry. By enhancing access to information, the amendments empower investors to make informed decisions while bolstering the Commission's ability to monitor and supervise the asset management industry.