Bisys (NYSE:BSG)
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From Jul 2019 to Jul 2024
BISYS Fund Services (BISYS) announced today a comprehensive 22c-2
solution that integrates the SunGard Transaction Network (STN)
technology into its full-service compliance and oversight offering. The
BISYS 22c-2 Solution™
is an all-inclusive outsourcing service to help mutual fund companies
with SEC Rule 22c-2 compliance and administration.
BISYS’ service solution includes independent
direct and/or omnibus account market-timing monitoring, compliance
oversight, and proactive measures to help monitor and deter market
timing led by a dedicated team of risk analysts. BISYS will execute
intermediary service agreements and perform due diligence research and
resolution. Independent reporting on suspicious trends and activities is
automated through BISYS’ proprietary
compliance desktop portal, ComplianceEdge™
Dashboard. Transparency is a paramount feature of the BISYS 22c-2
Solution, which includes full reporting services to chief compliance
officers and fund boards.
SunGard’s STN technology platform provides
BISYS with secure connectivity, data warehousing, data monitoring, an
analytics engine, reporting capabilities, and administration tools.
BISYS will integrate the STN solution with its service and compliance
expertise, including the initiation of request-for-trade detail,
monitoring and tracking of requests, data analysis, and comprehensive
client support. In addition to providing the technology for BISYS’
full-service offering, SunGard will continue to distribute its 22c-2
solution on an application service provider (ASP) basis to both fund
companies and financial intermediaries.
“SunGard’s STN
trade automation services and secure connectivity model make it one of
the most capable technology providers to handle the intricacies of Rule
22c-2 monitoring and compliance,” said Fred
Naddaff, president of BISYS Fund Services. “By
adding SunGard’s best-in-breed STN technology
component to BISYS' 22c-2 services, we have created the most powerful
end-to-end full-service offering.”
“SunGard has been working closely with BISYS
during the past few months to help it create an all-inclusive solution
for Rule 22c-2 compliance outsourcing,” said
Bob Ward, chief operating officer of SunGard’s
STN business unit. “By combining STN’s
technology with its own service expertise, BISYS is able to provide fund
companies with a completely outsourced compliance service for monitoring
market timing and assessing short-term redemption fees. This offering
will help bring greater efficiency and transparency to fund trading
activities and ultimately help protect individual investors from
frequent trading abuses.”
About BISYS Fund Services
BISYS Fund Services is an industry-leading provider of outsourcing
solutions for mutual funds, separately managed accounts (SMAs), and
other investment programs, worldwide. Recognized by various industry
publications and surveys for its service excellence and compliance
focus, BISYS administers more than $400 billion in assets for
approximately 2,000 portfolios. Its core offerings include compliance
and regulatory consulting and oversight, treasury and financial
administration, broker/dealer compliance, tax and legal services, fund
accounting, distribution support, and transfer agency services.
Investment managers of all types and sizes turn to BISYS for innovative
and tailored solutions. BISYS Fund Services is a division of The BISYS
Group, Inc.’s Investment Services group.
About BISYS
The BISYS Group, Inc. (NYSE: BSG) provides outsourcing solutions that
help investment firms and insurance companies to more efficiently serve
their customers, grow their businesses, and respond to evolving
regulatory requirements. Its Investment Services group provides
administration and distribution services for mutual funds, hedge funds,
private equity funds, retirement plans, separately managed accounts, and
other investment products. Through its Insurance Services group,
BISYS is the nation’s largest independent
wholesale distributor of life insurance and a leading independent
wholesale distributor of commercial property/casualty insurance,
long-term care, disability, and annuity products. Additional information
is available at www.bisys.com.
About STN
A trade automation and connectivity solution, the SunGard Transaction
Network (STN) links institutions throughout the financial services value
chain, facilitating the purchase and sale of many securities types,
including US and foreign equities, fixed income, mutual funds, money
market funds, certificates of deposit, and commercial paper. Integrated
directly with SunGard systems and with third-party systems, STN helps
automate the entire transaction lifecycle.
About SunGard
With annual revenue of $4 billion, SunGard is a global leader in
software and processing solutions for financial services, higher
education and the public sector. SunGard also helps
information-dependent enterprises of all types to ensure the continuity
of their business. SunGard serves more than 25,000 customers in more
than 50 countries, including the world’s 50
largest financial services companies. Visit SunGard at www.sungard.com.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities
Litigation Reform Act of 1995. These forward-looking statements are
based on management's current reasonable expectations and are subject to
certain assumptions, risks, uncertainties and changes in circumstances
due to future events as well as changes in economic, competitive,
regulatory and/or technological factors affecting BISYS’
business, including, without limitation, the ongoing government
investigations and litigations involving the company. More detailed
information about risk factors that could cause actual results to differ
materially are noted in BISYS’ periodic
filings with the Securities and Exchange Commission. These documents can
be accessed on BISYS’ website at www.bisys.com
under the “Investor Relations”
tab. Forward-looking statements are only predictions, not guarantees of
performance, and speak only as of the date they are made. BISYS
disclaims any obligation to update or amend these statements in light of
new information, future events or otherwise.
Trademark Information: SunGard, the SunGard logo and STN are trademarks
or registered trademarks of SunGard Data Systems Inc. or its
subsidiaries in the U.S. and other countries. All other trade names are
trademarks or registered trademarks of their respective holders.
Brokerage products and services offered by STN are provided by SunGard
Institutional Brokerage Inc., member NASD/SIPC.