State Street Corporation (NYSE: STT) announced today that it has developed a suite of services to assist clients with compliance testing and reporting requirements for the Commodity Futures Trade Commission’s (CFTC) rule amendments announced last year. The new service offerings will help investment companies registered under the Investment Company Act of 1940 (1940 Act) and private investment vehicles comply with new CFTC rules impacting funds that invest in certain derivative instruments.
The amendments to the CFTC rules require investment advisers that are considered to be a commodity pool operator (CPO) to register with the CFTC unless the CPO qualifies for one of the exemptions outlined by the CFTC.
“With increased industry-wide focus on transparency coupled with a complex market environment, we are focused on working with our clients to help them comply with the evolving regulatory landscape,” said Keith Slattery, senior vice president at State Street. “Our experienced compliance and fund administration team offers the scale and expertise necessary to assist clients in meeting complex regulatory requirements in a timely manner so they can focus on their core business.”
State Street’s CFTC services include initial diagnostic testing to help clients determine if they qualify for de minimus exemptions from the CFTC’s required registration as a CPO. The new offering also provides clients with daily compliance testing and filing of annual notices for those clients claiming an exemption; monthly or quarterly financial statements, enhanced prospectus financial data and provision of data for Form CPO-PQR reporting for those clients whose advisers are designated as a CPO.
About State Street
State Street Corporation (NYSE: STT) is one of the world's leading provider of financial services to institutional investors including investment servicing, investment management and investment research and trading. With $23.4 trillion in assets under custody and administration and $2.1 trillion in assets under management at September 30, 2012, State Street operates in 26 countries and more than 100 geographic markets. For more information, visit State Street’s web site at
*This AUM includes the assets of the SPDR Gold Trust (approx. $75.3 billion as of September 30, 2012), for which State Street Global Markets, LLC, an affiliate of State Street Global Advisors serves as the marketing agent