Caroline Cruickshank, a strategy manager with the BNY Mellon Corporate Trust group, discusses how captives have developed increased risk awareness since the 2008 financial crisis.
Financial Services and Tax Reporting
The impact of new regulation continues to be felt across the industry and market participants are coming under ever increasing scrutiny, with much stricter guidelines around reporting and transparency requirements.
BNY Mellon offers specialized financial and tax reporting services for a wide array of structured finance investments that support issuers and asset managers in:
- Meeting investment reporting requirements
- Improving transparency for investors
- Providing NAV calculations
- Distributing account statements
- Consolidating investment positions
We also have extensive Special Purpose Vehicle (SPV) tax reporting experience, covering REMICs, trusts and partnerships with services that include preparation of:
- United States tax returns and reports
- Delaware franchise reports
The new rules laid out by the Financial Accounting Standards Board in FAS167 have increased complexity, making it more challenging and time consuming to identify and report on unencumbered assets.
BNY Mellon offers reporting solutions that addresses many of these challenges, making the implementation of FAS167 rules much simpler and more efficient including:
- Maintenance of general ledgers
- Customized reporting
- Maintenance of tables and schedules for required disclosures
- Preparation of initial balance sheet
- Support for audit inquiries
Invested in You
Turn to BNY Mellon for unparalleled dedication, experience and support throughout your transaction process.