The solution allows Atlantic to offer its clients comprehensive and rigorous oversight for mutual funds, including money market funds, in line with the Investment Company Act of 1940 (1940 Act) and the recent money market reforms proposed by the Security and Exchange Commission. MIG21 is hosted in PFSâ state-of-the-art data center in Princeton, New Jersey. The solution, eMIG21, has been integrated with SunGardâs Asset Arena accounting system, market data providers and other internal systems, and replaces an installed commercial compliance system.
eMIG21 provides the same comprehensive compliance and risk monitoring functionality as PFS' market-leading compliance solution MIG21 while reducing maintenance, infrastructure and IT resource costs for MIG21 clients.
Gale Bertrand, Atlanticâs Senior Vice President says, "In order to compete in todayâs market, we need a tailored and scalable compliance infrastructure that allows us to offer the most comprehensive service now and into the future. MIG21âs flexible rule creation, data integration, management and reporting capabilities and ability to support an expeditious implementation were crucial factors in our decision. In addition, PFSâ Data Center offering was so compelling that we opted for the Software-as-a-Service (SaaS) delivery model, eMIG21. We are pleased with the speedy implementation of eMIG21; PFSâ compliance and technical experts were critical to our success."
Jim Russo, CEO of Princeton Financial Systems LLC says, "We are happy to see demand for MIG21 and our cost-efficient and low risk end-to-end compliance SaaS solution eMIG21 growing so rapidly. The SaaS delivery model eliminates usual IT infrastructure headaches, helps clients cut cost while at the same time improving reliability and security. Clients see eMIG21 as the safe choice because it is the compliance solution most widely used by service providers, and is hosted and serviced by experts from PFS, the MIG21 creator, in their own dedicated data center. We are confident that no other vendor can provide a more comprehensive investment compliance solution than MIG21, or implement faster than we can."