Mutual fund clients of the back-office specializing
The rule forces companies to forge written compliance rules that cater to the securities laws and come under subject of review each year, as well as hire a chief compliance officer. Firms must come into compliance with the rule by October 5, 2004.
The three-pronged Compliance+ interface will allow CCOs to understand which securities rules apply to specific procedures, and allows for the reporting of compliance information to clients. "Compliance+ addresses the requirements of this new rule from a holistic compliance infrastructure," said Jeff Cook, director of regulatory compliance for DST Systems. "It will supplement the efforts of those clients who have been working on their programs for awhile."
