Foreside News
Foreside Fund Services to buy an 'Enterprise Compliance System' from New Governance Inc.
Portland, ME - Sep 26 2005 - Foreside Fund Services LLC, a provider of compliance services to the US Mutual Fund industry, announced today that it had selected New Governance Inc.'s 'Enterprise Compliance Management System' to facilitate the workflow management of its Chief Compliance Officer and Sarbanes-Oxley certification services. The new platform will be used to service the 30 mutual funds that it provides compliance oversight to today, and will provide a platform for expected future growth.
"Due to the rapidly evolving regulatory environment, we have seen a tremendous increase in the demand for our compliance services. These regulations require CCOs to track and review a significant number and range of compliance tests. To successfully do this requires a comprehensive set of workflow management tools geared to the mutual fund market. After an extensive review of the systems available in the marketplace, we have decided to move forward with a solution from New Governance." said Simon Collier, Managing Partner at Foreside.
"The new compliance standards by which mutual funds, investment advisors, broker-dealers, public companies and other financial sector companies are required to operate by, are indeed very complex and extensive. Therefore, most investment companies will benefit by working with a company like Foreside that provides in-depth knowledge, thorough understanding, and reliable services through a strong technical base that uses our enterprise compliance management system, to be able to achieve the required higher level of compliance." said Mike Beedle, CEO at New Governance Inc.
About Foreside Fund Services, LLC.
Foreside is an established and independent broker-dealer, providing a distinct range of regulatory-compliance services to the US fund market. Foreside and its former affiliates have provided these services to Investment Companies since 1986. For more information, please visit our website or contact:
RICHARD J. BERTHY
Treasurer and Partner, Foreside Financial Group, LLC
About New Governance, Inc.
New Governance enterprise software solutions provide organizations with comprehensive functionality for managing governance and compliance processes. Our Solution, Governance Accelerator, is a Multi-Regulatory Enterprise Compliance Management tool designed for the Chief Compliance Officer to enable higher levels of compliance, and provide dramatic risk and operational cost reductions. For more information, please visit our website or contact our president John Cerwin.
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