By Amy Jones and Arin Stancil
National Society of Compliance Professionals (NSCP) Currents, 09.2018
After years of development, the 2020 GIPS standards has been finalized and is effective on January 1, 2020. This means that firms that voluntarily elect to claim compliance with the GIPS standards need to be prepared to implement policies and procedures that address the new requirements prior to that date. The reporting requirements have a longer timeline though – reports that satisfy the new requirements will not need to be created in most cases until 2021.