The specifics of what you need to know if you follow the Global Investment Performance Standards (GIPS) are merely weeks away. Registration for the conference covering it all is likely days away. Be assured there’s an expected 90-day global comment period, a 2019 annual conference to address the final version of the Standards after the comment period, and plenty of professionals to help make sure you are ready to comply by January 1, 2020.
If GIPS isn’t your day job, what you need to know about the 2020 standards in fifty words or less: the revised version will have three distinct Standards for firms/staff with discretion managing 1) separate accounts, 2) commingled funds, and 3) internal assets – aka the “three pillars.” New terminology, disclosure additions/edits and a handful of clarifying interpretations will need to be incorporated into your GIPS compliance program by 2020.
There may be a little more to it than that–ensuring compliance stays meaningful and more streamlined for asset owners and commingled fund managers. We’ll all have a chance to evaluate the specifics once they are published.
Until then, key dates along the way:
- June 30, 2018: Deadline for compliant firms to confirm 2018 registration on the GIPS website here.
- August/September 2018: GIPS 2020 Draft Released – 90-day comment period expected.
- September 13-14, 2018: Annual GIPS Standards Conference in Austin, TX
- Those dates don’t work for you to be in Austin? Tune in to individual sessions live online. Catch up on the entire event by joining Cascade Compliance for our webinar recap.
- November/December 2018: Comment period on the draft GIPS 2020 closed.
- 2019: Final 2020 standards issued. Early adoption expected to be permitted.
- January 1, 2020: Revised Standards effective.
Looking forward to more conversations, when we get there.