The Security Issue database introduces a comparison tool for mutual funds to disseminate a broad range of reference information about fund securities, increase transparency of information, and strengthens auditing and regulatory management to their distribution partners. This information includes investment objectives, fee schedules, contingent-deferred sales charges, blue-sky details, commission data, breakpoint schedules and linkage rules and much more.
A hierarchical structure streamlines information input by funds, automatically populating other applicable levels, eliminating repetitive entries.
The database’s Profile Security Data Comparison Tool, a web interface, receives data points associated with mutual funds (as retrieved by a third party vendor) from the SEC’s EDGAR system. The tool compares the mutual fund data points filed in the EDGAR system to existing Profile information to help ensure accuracy.
Profile Security Data Comparison Tool: Highlights
- Data points from source documents filed by the funds are available via a web-based interface, allowing Funds to compare their existing Profile data
- Variances between the data in Profile Security and the filing are identified, allowing funds to edit and approve the data while alerting Firms to exceptions via annotations
- Operational information generally not found in source document filings is also available and is denoted as such in the system for funds to complete.
- Firms can review annotations and send an email message directly from within the tool to the fund for more information
Profile Security Data Comparison Tool: Benefits for Firms
- Offers a comprehensive centralized and automated database.
- Brings consistency of data and simplified web access to the Statutory prospectus, SAI and Supplement document language
- Assures greater confidence in the validation process and data accuracy
- Delivers timely updates to firms
- Provides the most current data
Profile Security Data Comparison Tool: Benefits for Funds
- Simplifies data updates via a new Filings dashboard
- Reduces data entry, decreasing the amount of manual work
- Affords more automation of the data review and approval process
- Sends automated alerts to Funds via daily emails of any differences in Profile as compared to source documents
- Enables product distribution and processing
- Supports regulatory adherence and reporting