Activity Reporting

• Reports any financial transaction that occurs directly at fund that causes a change in the balance of a sub-account.
• Includes closing share balances for Fund/SERV- initiated activity.
• Reports year-end tax information on reallocated distributions.

Dividend Distribution Reports

• Transmits dividend information - including the dividend rate, posting and payable dates.
• Reports new share balances for each customer account, whether the client has opted to have dividends reinvested or to be paid in cash.
• Provides an option to use NSCC's net settlement for participants that elect cash dividends.

Position Statements

• Transmits scheduled files of closing share balances for each sub-account at the investment company.

Account Maintenance & Reconciliation

• Funds can send non-financial detailed account information to a participant firm on a particular security.
• Provides a scrub file from funds to firms so firms can review how their accounts have been set up at a fund.
• A Fund Account Response Indicator allows firms to request a full set of fund conversion records for a particular Networked account.
• Offers scheduled, detailed reporting of each account's set-up, including withholding information, branch number, account representative number, and distribution option information.

Network Level Account Control

• Firms select the level of reporting controls for each type of account.
  
  - Level 1: The firm handles all client communications, with the exception of tax reporting, which is handled by the fund company. Clients have limited direct shareholder privileges.
  - Level 2: The firm handles all client communications and confirms orders.  Tax reporting is handled by the fund. Clients have full shareholder privileges directly with the investment company.
  - Level 3: Firms handle all communications with the client. Clients have no privileges directly with the fund company.
  - Level 4: The fund company handles all client communications. Clients have full shareholder privileges directly with the fund, or can manage transactions directly through the broker. The firm can process orders is informed by the fund company of all customer account record changes. 
  - Level 0: Indicates either a non-networked account, an account held directly at a fund company, or a trust account when a trust company and a broker/financial institution share an account. This dual account allows both parties to share information with the trust maintaining fiduciary responsibility for the account.

For More Information

Please contact Wealth Management Services Marketing at (212) 855-8877.