Transactions in Disclosure Forms
Several regulatory jurisdictions require historical transactions to be disclosed either directly in their standard disclosure form or as an annexure to the standard form. To streamline this process, FundApps provides tools to automate the historical transaction disclosure requirement.
Note: The transaction file is for document generation purposes only and neglecting to provide transaction information will NOT result in Missing Data exceptions. However, utilizing the Transactions in Disclosure functionality will minimize the manual work required for disclosing in a jurisdiction where transaction-level data is required and facilitate a successful document generation.
How It Works
When a user generates a disclosure form that requires transaction data, the following steps occur:
- The system reviews our rule coding and identifies what information is required by the regulator (e.g. historical transaction for the previous 30, 45, or 90 days)
- Using the AssetId provided by the client in the transactions file, FundApps pulls in corresponding data for that transaction and populates the form.
Providing Transaction Data
You can upload transaction data in a CSV file via the API endpoint or directly in the Transaction menu via Other > Transactions.
Our sample transaction file provides an example of the file format and the fields necessary to pass FundApps’ validation process. Please see the readme for more information on the columns and the valid transaction types.
Re-uploading transactions for previous NAV dates will not work. Each transaction has a unique ID that cannot be overwritten. You are only able to upload new transactions that have not been uploaded previously - otherwise, you would be double counting as any re-uploads would have to have new transactionIDs to pass validation.
If there has been an error and you need to correct a transaction, you can cancel out the incorrect transaction with an adjustment transaction. An adjustment transaction is the only one that allows you to re-use a TransactionID, however, it has to be of an equal but opposite value from the original.
Transaction ID 1: Buy 200
Transaction ID 1: Adjustment -200
Examples of rules that require historical Transactions to be uploaded into the system for the disclosures to be generated correctly are: