With the imminent implementation of the Tailored Shareholder Reports (TSR) rule, firms are changing their processes and, usually, incurring new costs. These mandates require streamlined, summary annual and semi-annual reports to be clearer, more concise, and visually engaging.

• A recent FUSE survey found that 69% of asset managers expect a “large” or “enormous” impact from the regulations, and 54% anticipate more time needed for the new reports.
• 85% of firms foresee annual cost increases due to the TSR rule, with 38% expecting added costs between $100,000 to $500,000, and 8% anticipating added costs over $1 million.
• The rise in costs will likely accelerate the use of AI and automation in producing shareholder reports, enabling more cost-effective solutions.