Year-End Conference CallsFor sure, I’m not the only one feeling how fast 2014 is coming to an end. Just the other day I overheard a couple at the grocery store telling their cashier how they saw a Christmas commercial for the first time this season. This made me realize that the Holidays are right around the corner and much preparation is in order. To that end and as it relates to compliance reporting in the telecom world, this is the time to prepare for a year-end gathering of the minds with your compliance reporting personnel to discuss plans for 2015. Past accomplishments, anticipated documents and projected changes should be at the forefront of discussions. Whether your regulatory team is comprised of internal or external experts, aggregating their invaluable knowledge and drawing on their experiences will ensure your organization will hit the ground running in 2015.

 

Among other items worth discussing, is the shift in required electronic submission of reports. In reviewing processes and procedures of the past 12 months, we’ve observed an uptick in mandated hands on keyboard resized 600electronic filings from agencies and fund administrators. This is expected as technology advances and state commissions become more efficient in data processing and less reliant on paper filings.

 

Looking ahead towards annual reporting season, it makes good practice establishing a timeline for when certain documents will be available, such as the balance sheet, income statement, and statement of cash flows. Some states like Nevada require all three forms of financial statements to be included with the Annual Report, otherwise, the filing is rejected which can result in fines and penalties with possible revocation of operating authority.

 

Other hot topics of discussion include projected changes for the upcoming year. Getting acquainted with report format updates and ongoing rate changes will make certain your company stays ahead of the curve. Confidential filing instructions are vital in keeping your financial data classified. Staying on top of any changes will ensure your company acclimates to a regulatory landscape that’s constantly evolving.

 

 

conference callsThese are just a few of the items to be discussed during your company’s year-end conference call with TMI. Now is the time to plan and project for the upcoming annual reporting season, so, put it in gear and be prepared for the upcoming year. Get with your regulatory aces and pave the way for a fresh and exciting 2015!

 

 

 

 

 

 

 

Telecom Regulatory Fees and Assessments

 

 

Regulatory Briefing