Subject: LoPresti Law Group Alert - First Quarter 2016 Compliance Deadlines for Investment Managers
From: "LoPresti Law Group, P.C." <[email-masked]>
To: <[email-masked]>
Date: Wed, 20 Jan 2016 18:19:14 -0500 (EST)

FIRST QUARTER 2016 COMPLIANCE DEADLINES FOR INVESTMENT MANAGERS The first quarter of 2016 contains some key compliance dates for most investment managers. Please note that the list below is general advice that is applicable to most investment managers and contains some best practice compliance suggestions.  This communication should not be considered exhaustive.  January 30, 2016  Access Person Annual Holdings Reports    All SEC registered investment advisers must require all access persons to submit to their chief compliance officer or other designated person, a report of all current securities holdings and transaction reports for reportable securities in which the access person has, or acquires, any direct or indirect beneficial ownership at least annually.  All information reported must be current no more than 45 days prior to the date reporting is required.  Although the rules do not specify the exact date when annual holdings reports are due, firms should seek to collect access person reports by January 30th as fourth quarter brokerage statements, which generally should be deemed to satisfy this requirement (in addition to other transaction reports), will be current as of 45 days prior to the date of submission, in accordance with the rule. February 15, 2016  Schedule 13G  Any person who acquires, directly or indirectly, a 5% beneficial ownership of any equity security of a class must file a Schedule 13D.  A person who would otherwise be obligated to file a statement on Schedule 13D may, in lieu thereof, file with the SEC a short-form statement on Schedule 13G within 45 days after the end of the calendar year provided that such person acquired such securities in the ordinary course of his/her business and not with the propose of changing or influencing the control of the issues, nor in connection with or as a participant in any transaction having such purpose of effect.    Form 13F  Institutional investment managers which exercise investment discretion over $100,000,000 or more in securities trading on a national securities exchange or quoted on an automated quotation system must file a report on Form 13F with the SEC within 45 days after the last day of such calendar year.  Form 5  Any person who is a beneficial owner, directly or indirectly, of more than 10% of any class of equity securities registered under Section 12 or a director or officer of the issuer of such securities must file a Form 5 with the SEC within 45 days after the issuer's fiscal year end. February 29, 2016 NFA/CFTC Annual Exemption Affirmation  Any person or entity claiming an exemption or exclusion from Commodity Pool Operator  (“CPO”) registration under CFTC Regulation 4.5, 4.13(a)(1), 4.13(a)(2), 4.13(a)(3), 4.13(a)(5) or an exemption from Commodity Trading Adviser (“CTA”) registration under 4.14(a)(8) must annually affirm the applicable notice of exemption or exclusion within 60 days of the calendar year end.  Failure to affirm an active exemption or exclusion from CPO or CTA registration will result in the exemption or exclusion being withdrawn on March 1, 2016. March 10, 2016 Form N-CSR   Registered investment companies must file their certified shareholder annual report to its shareholders within 60 days of the fiscal year to which its report relates to the SEC on Form N-CSR no later than 10 days after the report is sent to shareholders.  March 30, 2016 Form ADV Part 1, Part 2  SEC registered investment advisers must file their annual updating amendments within 90 days of the investment adviser’s fiscal year.  State registered investment advisers should review their particular state’s laws regarding annual amendments and applicable deadlines.  For example, New York registered investment advisers must also file an annual updating amendment within 90 days after the investment adviser’s fiscal year.  Anniversary Date of Filing Annual Form D  Issuers who have previously filed a Form D must file an amendment if the offering is still active on year after the initial Form D filing. CPO/CTA Questionnaires   CFTC Member firms, including Futures Commission Merchants, Retail Foreign Exchange Dealers, Introducing Brokers, CPOs, CTAs, Swap Dealers and Major Swap Participant Members, must complete an annual questionnaire as part of NFA's Membership application process.  Member firms are encouraged to update their questionnaire data on a regular basis, but must, at a minimum, complete the annual questionnaire on the anniversary of their NFA Membership date. LoPresti Law Group, P.C. is a leading corporate and securities law firm providing comprehensive legal solutions to clients around the globe. Founder, Marc LoPresti, has distinguished the firm by integrating legal expertise, practical business experience and a unique understanding of the financial markets into its approach to the practice of law.  LoPresti Law Group, P.C. was awarded the 2014 International Hedge Fund Awards “Securities Law Firm of the Year,” the 2015 “Best Alternative Investment Management Law Firm" and most recently the 2015 Corporate LiveWire "Hedge Fund Law Firm of the Year". For any questions concerning this alert or for information regarding any securities related transaction, please contact LoPresti Law Group, P.C. at [email-masked]. LoPresti Law Group, P.C. 45 Broadway, Suite 610 New York, New York 10006 (212) 732-4029 The information contained herein was prepared by LoPresti Law Group, P.C. for general informational purposes for clients and friends of LoPresti Law Group, P.C. Its contents should not be construed as legal advice, and readers should not act upon the information in this Alert without consulting counsel. This information is presented without any representation or warranty as to its accuracy, completeness or timeliness. 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