âWith over 500 mutual funds and 6,500 financial intermediaries, this ruling has an impact across every spectrum of the financial services industryâ says Sanjay Bery, Asset Management Solution Partner at BusinessEdge Solutions Inc. âSurprisingly, many companies impacted have just started the planning for 22c-2 and the deadline is just 7 months away. To implement a 22c-2 quickly and cost effectively requires planning, understanding of the vendor landscape and coordination with all stakeholders.â
BusinessEdge combines itâs extensive experience in compliance and asset management and has service offerings to assist mutual funds and financial intermediaries in timely implementation of 22c-2. The service offerings include vendor selection, solution implementation and workflow redesign. BusinessEdge has experience assisting both mutual fund and financial intermediaries in selection and implementation of 22c-2 solutions.
â22c-2 deadlines are approaching and action must be taken. Plugging in the wrong solution is not the answer â each mutual fund and financial intermediary company must take an overall view of itâs current situation and determine the best solution to solving the 22c-2 issue,â says Dick Whitney, Compliance Solution Partner at BusinessEdge Financial Services.