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Ops & Tech

Taking Hands Off the Paper Jam

August 2, 2010 - Fund giants continue trudging on the paper treadmill.

Definitely Seeking Transparency

August 2, 2010 - Knowing that the SEC will be demanding more information from them, hedge funds are getting ready.

Wary Investors Demanding CRM from Hedge Funds

August 2, 2010 - Bernie Madoff and financiers of his ilk have changed the landscape for hedge fund managers forever.

MetLife Algorithm Meets 'Suitability Standard'

July 26, 2010 - MetLife's Award-Winning MetLife Fund Management Services is on the Cutting Edge of Fiduciary Standards. The model has been so embraced by financial advisers that $200 million in AUM sits in FMS via 7,000 accounts.

Fund Managers: Ask More When it Comes to MiFID

July 26, 2010 - Different lit and dark venues can take advantage of different trade reporting rules under MiFID.

Fund Managers: Ask More When it Comes to MiFID

July 26, 2010 - Different lit and dark venues can take advantage of different trade reporting rules under MiFID.

FRC, S&P Join on Content Licensing & Distribution

June 21, 2010 - FRC, S&P Join on Content Licensing & Distribution

Distressed Loans: Can Automation Solve the Settlement Backlog?

June 21, 2010 - Distressed Loans: Can Automation Solve the Settlement Backlog?

Mutual Funds Must Go High-Tech-v. 3.0

June 7, 2010 - Over the last number of years, mutual fund transfer agencies and shareholder communications companies have tried to convince shareholders to accept paperless summary prospectuses, proxies, trade confirmations and electronically stamped signatures. Fund supermarkets and web home pages have broadened their horizons to include market commentary, videostreaming and personal financial news. At the same time, exchange-traded funds, funds-of-funds, hedge FoFs, unified managed accounts, target dates, 401(k) auto enrollment and heightened awareness among people throughout the country of the difficulties of being retired-have taken off.

Fund Firms Prepare for Cost Basis Intricacies

June 7, 2010 - The cost-basis reporting requirements are going to be a quagmire for shareholders and fund complexes alike. 'Many mutual fund shareholders are invested in more than just mutual funds,' said Jeff Cook, director of regulatory compliance at DST Systems. 'These new rules bring every existing shareholder into play.' The changes to the Internal Revenue Service's Form 1099-B represent an entirely new method of managing accounts and are intended to curtail what is thought to be widespread tax avoidance.

Harnessing the Power of Digital Money Management

May 24, 2010 - Over the past decade, an information revolution has been shaking the financial world. Just as numerous other industries are coping with how to communicate and operate in a digital environment, financial companies are grappling with how to engage a more proactive and educated client base. Financial clients can access a range of data independently, making it possible to research even the most complex derivatives, technical trading strategies and emerging industries. The exchanges themselves are furthering this trend with big investments in online training as they try to broaden their own reach.

'Flash Crash' Concerns Fund Leaders

May 17, 2010 - Top industry leaders and regulators are still trying to figure out what happened during the mysterious "flash crash" of May 6, when the Dow dropped 1,000 points and exchanges briefly fell off a cliff. While most or all of the erroneous trades in stocks and exchange-traded funds that took place between 2:40 p.m. and 3 p.m. that day have been canceled, more than 100 ETFs fell to mere pennies and then rebounded. If the crash had occurred at the end of the trading day, not only could it have wiped out investors' holdings, it could also have been a pricing nightmare for mutual funds.

First-Place Honors in Ops Awards Go to ICI, Franklin, Putnam

May 17, 2010 - Money Management Executive has announced the winners of the 2010 Fund Operations Awards. Donald J. Boteler, vice president of Operations and Continuing Education at the Investment Company Institute, won first place for visionary leadership; David M. McSpadden, senior vice president of Global Client Marketing at Franklin Templeton Investments, won first place for innovation and customer service; and Putnam Investments won first place in the back office efficiencies and streamlining category.

Fund Valuations Can Be a Moving Target

May 3, 2010 - One of the most challenging aspects of the credit crisis is the need to revise historical processes to validate security prices. A common industry practice is for administrators to test the propriety of prices by performing vendor comparisons and examining variations outside of typical percentage thresholds. However, where substantial variation in valuations among pricing vendors for fixed income securities exists, particularly those with low trading volumes, it is virtually impossible to complete vendor price comparisons using historical tolerances.

New Derivatives Regs Threaten Operational Labyrinth

May 3, 2010 - Over-the-counter derivatives, once known for their obscurity, are center stage in the Securities and Exchange Commission's lawsuit against Goldman Sachs and President Obama's financial reforms. When values went south in 2007 and 2008, an inability to properly judge and react to the risks contributed to the bankruptcy of Lehman Brothers and the near-failure of AIG. Operations executives heading to the Securities Industry and Financial Markets Association's 2010 conference in Palm Desert, Calif., this week agree regulation is imminent.