Reporting obligations require collective investment management companies to submit quarterly reports and financial disclosures to trustees and regulators. Regulation 15 requires the Collective Investment Management Company to prepare quarterly activity and compliance reports for trustees within one month of each quarter end; file director particulars on appointment and any changes in their interests within fifteen days with the trustee and the Board; furnish unit holders with the Balance Sheet, Profit and Loss Account and a yearly appraisal summary within two months of financial year end; and provide the Board and trustee any information or documents concerning the collective investment scheme as requested.