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Kicking the Can (or Buckets) Down the Road – Liquidity Rule Delayed Six Months

The SEC voted on Wednesday to delay the compliance date of the classification requirement of the Liquidity Rule in what turned out to be a whirlwind of a week for the regulatory body.

With a delay now formalized, fund firms with more than $1 billion in assets now have till June 1, 2019, to comply with the classification requirements, while smaller firms have till Dec. 1, 2019. The SEC also issued an FAQ document detailing compliance requirements for the rule, which you can find here. The other requirements of the rule still go into effect December 1, 2018, for large funds and June 1, 2018, for smaller funds. Read more

Delta Data Named a TAG Top 40 Innovative Technology Company

ATLANTA (February 21, 2018) – The Technology Association of Georgia (TAG), the state’s leading association dedicated to the promotion and economic advancement of Georgia’s technology industry, today announced Delta Data as one of its Top 40 Innovative Technology Companies in Georgia. TAG will recognize this prestigious group at The Summit 2018 on March 20th and 21st, 2018, at the Cobb Galleria Centre. Read more

Delta Data and FundBlast Featured in Ignites Article

Tech Shop to B-Ds: We Can Eliminate Risk, 21K Fund E-Mails

By Bradley Saacks February 8, 2018

By Delta Data’s estimates, the typical broker-dealer sifts through more than 21,000 e-mails every year, piecing together information about changes to funds ranging from portfolio manager retirements to breakpoint tweaks.

The Columbus, Ga.-based back-office systems shop says its new FundBlast system can eliminate that manual work — and the errors it can cause — by serving as a portal between mutual fund providers, their transfer agents and their distribution partners more efficiently. The result, the company says, will cut operational and compliance costs on both sides of the distribution equation.

Read entire article.

Learn more about FundBlast. 

 

 

Peeking Behind the Curtain of Mutual Fund Corporate Actions – Part III

In part three of our series looking at the world of mutual fund changes and how they’re communicated, we look toward the future. To recap, funds and distributors have been frustrated with the fund event communication process since the beginning. The main issue is that manual processes, lack of standardization, and massive amounts of irrelevant data confuse both the funds and the distributors – and leads to errors, audit issues, and fines. Read more

Delta Data Launches FundBlast

New digital portal aims to revolutionize how mutual fund changes are communicated.

February 7, 2018, Columbus, Ga. — Delta Data, a leading provider of software and data management solutions for the mutual fund industry, today announced the launch of FundBlast™, a transformational digital portal for communicating mutual fund changes in real time.

Developed to seamlessly facilitate the notification and processing of fund events such as new products, mergers, liquidations, accounting changes, and trade rule updates, FundBlast serves all parties involved in the fund actions lifecycle. This includes fund companies, distribution partners (broker-dealers) and fund service providers such as transfer agents, fund accountants, and record keepers. Read more

Broker Dealer Platform Rationalization Puts Operations Teams Front and Center

Over the past two years, the industry has seen a growing trend of platform rationalization across the board for broker-dealers, with several in the top tier seeking to offer advice as part of their value proposition, similar to what the end investor receives.  The supermarket approach of the early 2000s was expensive to maintain, and research coverage was relegated to a small list of preferred mutual fund products. Read more

How to Ease Your December Dividend Headache

 

It’s the most wonderful time of the year … unless you’re an intermediary in charge of processing mutual fund dividends. December is a high-volume month, with an onslaught of dividends that have to be posted in a timely fashion. Years ago when most fund accounts were held fully disclosed on the fund company’s TA system, dividends were a non-event. But the move to omnibus accounts and the growth of 401k plans now requires the intermediary to calculate the amount of each shareholder’s dividend and get it posted to their account the evening of ex-date. Read more

3 Reasons Why You Should Take a Sales Meeting

For some people, taking a sales meeting is on par with going to the dentist — they’ll avoid it at all costs. Avoiding the dentist due to an unreasonable fear will eventually come back to haunt you, just like skipping an informative sales call could mean missing out on the latest industry technology — ultimately impacting your business. Read more

The Best Plan for a Potential Liquidity Rule Delay? Plan for No Delay

There have been multiple developments suggesting that Rule 22e-4 (“the liquidity rule”) is likely to be significantly watered down or, at least, delayed. Earlier this month, ICI sent a letter to the SEC urging the regulator to delay the compliance date by a year to ensure firms are well prepared. This postponement would appear to be in the industry’s best interest, given that a recent survey of 220 CCOs across the industry revealed that 90% of them were less than halfway through preparations to comply with the rule. Read more

Peeking Behind the Curtain of Mutual Fund Corporate Actions – Part II

As we highlighted in our last post, corporate actions play a crucial role in the day-to-day management of mutual funds as well as the Broker-Dealers, Bank Trusts and Record Keepers that distribute them.

Once the corporate action blast email is sent out and received by distributors, a multi-step process, chock full of obstacles and risk begins. Deciphering what’s being communicated and if/how it effects your enterprise is rarely a simple task.  We’ve listened to our distribution clients — and here’s what we’re hearing about the current state of corporate action blast communications. Read more