SS&C Technologies announced a new tool on Tuesday designed to help investment companies comply with the Securities and Exchange Commission’s modernization rules.
The SEC Modernization Reporting and Liquidity Risk Management Program Rules became effective Jan. 17 and address liquidity and reporting requirements at investment companies. New disclosure reporting regarding the liquidity of a fund’s holdings and its liquidity risk management practices will effective in June 2018.
SS&C GlobeOp’s SEC Modernization Reporting tool will support firm’s requirements to file Forms N-PORT, N-CEN and N-LIQUID.
“SS&C Regulatory Solutions team, along with CORE, our proprietary enrichment, organization and normalization engine, have a proven track record of exceptional expertise and performance in regulatory reporting,” Michael Megaw, managing director and global head of regulatory solutions for SS&C GlobeOp, said in a statement. “We are excited to announce that we will now be offering ’40 Act’ funds, the same reporting excellence we have provided to the alternative asset management community for the past five years.”
HedgeCoVest launched on Wednesday a new solution to help enterprise firms manage their separately managed account business.
The DEPLOY program features client onboarding tools, as well as trade rotation, execution and reconciliation tools. Advisors can combine more than one strategy on the platform or trade single securities.
The tool will let advisors create white-labeled reports and will automate billing.
“HedgeCoVest’s technology provides a fully outsourced SMA solution by deferring operational functions to us, allowing investment firms to focus on marketing, portfolio composition, and strategy development,” Evan Rapoport, CEO of HedgeCoVest, said in a statement. “With DEPLOY, firms can easily scale their investment business by offering SMAs at lower costs and little operational burden.”
The DEPLOY program will be available on HedgeCoVest’s UMA platform as well as the SMArtX platform.
On Tuesday, cloud software provider iPipeline announced that it has added Raymond James and OneAmerica to the list of financial firms it provides services for.
The firms will use iPipeline’s DocFast e-Delivery tool to share insurance policies and other documents between insurer, distributor, financial advisor and customer. Customers can increase their coverage by pre-approved amounts, increase their death benefits, change term lengths and select payment modes through a digital interface.
“The insurance industry prints billions of pages of documents per year to do business. This is done at an astronomical cost, and this paper-based process creates roadblocks to streamlining the selling and buying of insurance,” Tim Wallace, CEO of iPipeline, said in a statement. “Today’s digital customer expects communications and documents, including insurance policies, to be delivered electronically.”
Beth Maziad, senior vice president of private client group investment product operations at Raymond James, noted that the tool is specifically designed for life insurers’ needs. “Our recent pilot with OneAmerica demonstrated positive results, and we see the solution launch taking us one step closer to achieving our digital transformation goals. e-Policy delivery for life insurance will be rolled out to clients first with annuity contract deliveries following in the future,” she said in the statement.
— Read New Cetera Tool Will Use Facial Recognition to Measure Client Emotions on ThinkAdvisor.