BISYS is to assist fund companies in complying with SEC Rule 22c-2 by updating their software. The rule is intended to prevent market timing and other abusive trading practices by mutual fund investors.
The BISYS Retirement Services 22c-2 total application includes redemption fee and trade blocking capabilities, shareholder information and transaction report, and a shareholder Information Services Agreement.
“Rule 22c-2 has created significant compliance requirements for fund companies, and these challenges are compounded in retirement plans,” says Bob Guillocheau, the president of BISYS Retirement Services. “We pride ourselves on creating industry-leading innovative solutions to solve the challenges faced in the financial services industry and, as a result, have made significant investments in creating tools to assist fund companies in complying with SEC Rule 22c-2. We designed our solution to be flexible in order to meet different needs and automated our solution to ensure timeliness, accuracy and ease in implementation so fund companies are better situated to meet the SEC compliance deadlines.”