Envision Financial Systems Announces OppenheimerFunds, Inc. use of Clarity Compliance

16 December 2008

Envision Financial Systems, Inc, the Irvine-based provider of shareholder accounting systems and services announced today that OppenheimerFunds, Inc. (OFI) has implemented the Clarity Compliance software suite for monitoring their compliance with SEC Rule 22(c)-2.

The Securities and Exchange Commissions Rule 22(c)-2 requires a mutual fund investment manager to review shareholder trading activity in its funds to ensure compliance with the policies stated in its prospectus. Utilizing Clarity Compliance will allow OFI to automatically analyze shareholder trading activity against trading policies. “With Clarity Compliance, we have implemented a data analytics system that will provide OFI long-term benefits such as access to industry expertise and best practices and automating the flow of information while continuing to ensure consistent application of OppenheimerFunds’ trading policies.” says Patrick Campbell, Vice President of the Transfer Agent for OFI. Tim Kan, President of Envision said, "The selection and implementation of Clarity Compliance by OFI validates our belief that it is the premier Rule 22(c)-2 analytical tool available and we are extremely pleased that OFI is now able to leverage its capabilities.”

Clarity Compliance is an on demand solution used to automate the collection and analysis of data to identify shareholder trading that violates the trading policies outlined in a mutual fund’s prospectus. Clarity Compliance is offered and supported by Envision and its partner Celera Systems.

Become a bobsguide member to access the following

1. Unrestricted access to bobsguide
2. Send a proposal request
3. Insights delivered daily to your inbox
4. Career development