TowerGroup ‘The Hidden Cost of Cost Basis Reporting’

Research Towergroup Hidden CostThe new cost basis reporting requirements imposed on brokerage and investment management firms are the subject of this TowerGroup ViewPoint, which is the first in a series of reports based on the findings of TowerGroup’s 2009 Cost Basis Reporting Survey, conducted in Q3 2009. The analysis covers front office, client-facing issues related to cost basis that TowerGroup believes many firms are ignoring. The ViewPoint briefly reviews the cost basis legislation, highlights some potential challenges, and discusses the financial impact the reporting rules might have on the front office as well as recommends some steps that firms can take to prepare for compliance with the new legislation.


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