Version 2.0 of Princeton Financial Systems US-1940 Act LawCard helps clients comply with stronger regulation.
Princeton Financial Systems (PFS), a provider of accounting, investment compliance, data management, performance measurement and reporting solutions to the global investment industry, announced that version 2.0 of its US 1940 Act LawCard has been released. In addition to various other improvements, this LawCard update supports the US Securities and Exchange Commissions (SEC) June 2009 money market reform proposal for improving the liquidity, maturity and quality of the investments made by money market funds. The LawCard will provide clients with a more stringent set of guidelines to comply with, thus enabling them to better manage risk in various economic conditions.
LawCards are predefined rule sets for monitoring investment compliance for major investment jurisdictions using MIG21, PFS award-winning investment compliance solution. PFS US-1940 Act LawCard addresses investment restrictions on mutual funds, including money market funds, as defined by the Investment Company Act of 1940 (“1940 Act”). It also incorporates certain restrictions that are defined in the Internal Revenue Code.
“As a best-of-breed provider, we have decided to move fast, to develop solutions for the regulatory changes underway for money market funds, says Peter Trabert, head of Princeton Financial Systems LawCard team. Given the inherent flexibility of LawCards and MIG21, we are able to incorporate changes quickly and efficiently.”
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