For 40 years, Boston Financial has developed strong and reputable compliance services for the asset management, wealth servicing and financial services marketplace, including:
Whether generating year-end tax forms for shareholders or delivering magnetic media to the IRS and applicable states throughout the year, Boston Financial offers management companies comprehensive tax reporting services. With all of your investors' critical account and transaction data at our fingertips, you can be confident in our ability to help you define critical year-end data, test, and execute reporting procedures efficiently and accurately.
The unclaimed property solution goes beyond compliance with federal and state rules. Through a proactive investor communication outreach program, advanced shareholder searches, and access to specialized resources, this comprehensive offering enables you to preserve shareholder assets and mitigate risk. The UPA offering includes:
- SEC Mandated Searches
- Due Diligence Mailing
- Unresponsive Payee Notice
- Standardized Reporting
- External Data Feeds
- Escheatment Consulting
- Audit Defense
- Deep Search - Living and Dead
- Ongoing Inactivity Monitoring and Outreach
Boston Financial has established its own anti-money laundering (AML) program designed to comply with the requirements of Title III of the USA PATRIOT Act. Delegated duties performed by Boston Financial include:
- Patterned/unusual activity
- Known offender
- OFAC Daily/Periodic
- Customer Identification Program (CIP)
- Politically Exposed Persons (PIP)
- FinCEN Section 314(a)
- Section 311
- Section 312
- SAR Filing
Boston Financial performs CIP review and verification of the identity of those individuals who open accounts directly at Boston Financial.
Responding to market timing scandals, SEC Rule 22c-2 mandates that financial services companies create and administer a program that:
- Identifies subaccount market timing activities
- Communicates exceptions to intermediaries
- Ensures that intermediaries are enforcing prospectus obligations at the individual shareholder level
Lack of compliance with Rule 22c-2 can mean fines in the millions of dollars.
This resource intensive regulation is very difficult to manage in-house without tools for (a) automating and adjusting sales monitoring thresholds, (b) managing non-standard sales feeds from intermediaries, and (c) storing and retrieving data for future audit needs.
But tools are only one part of the equation. Fund companies also need compliance professionals who are expert in leveraging these tools, and adept at investigating potential violations.
Our full-service market timing solution offers you peace of mind by:
- Managing your intermediary interfaces, including correspondence, data requests, and data storage
- Analyzing your sales activities against fund rules - analyzing all file types and breaking down data to the most granular level to make sure your fund rules are being uniformly applied
- Reviewing and filtering your daily exceptions
- Investigating potential market timing violations, handling all communication with intermediaries
- Communicating the results of investigations to your team, so they only need to act when potential problems are identified
We also manage and maintain your 22c-2 data, including your restrictions database, intermediary correspondence, and intermediary audit trails.
Only Boston Financial brings together sophisticated technologies and deep industry expertise to offer a SEC-compliant, comprehensive market timing solution that helps you monitor - and take action against - market timers and/or abusive traders.
Boston Financial's complete suite of Blue Sky Administration services offers clients increased efficiencies, transparency, and oversight in their Blue Sky program. Our all-inclusive service includes:
- State Blue Sky filings (initial, amendment, renewal, fund changes)
- Daily sales monitoring
- Transfer agent sales feed consolidation
- Limited Power of Attorney, used to submit notice filings, sign filings and request associated checks on behalf of funds
- Customized Blue Sky billing cycles and automated payment
- Secure, online client reporting
- Exemption processing
More than just a vendor, Boston Financial is a strategic ally in the delivery of your Blue Sky program. We offer a clear path for meeting your Blue Sky obligations by providing:
- Flexible technology that can be used with any transfer agency platform
- Consultative management approach that helps minimize your state fees, including staff with state law expertise who are available to your firm for consultative discussions about exemption processing and to explain interpretations of state Blue Sky rules
- Deep bench strength in both the technology and the process of managing Blue Sky administration
- Strong relationships with broker/dealers solidified by our intermediary support and oversight teams
- Client community to exchange best practices and stay abreast of ever-changing state laws
- Secure access to ancillary services that complement your operation such as distribution intelligence, data and digital strategy consulting, 22c-2 trade monitoring, and proxy services - all in one enterprise
- A long-term commitment to our business and our clients
As an industry leader and premier transfer agent, Boston Financial is uniquely positioned to maximize the efficiency of your Blue Sky program without compromising the quality and attention to detail you expect from us.
Working with our Chief Compliance Officer, we monitor ever-changing federal and state regulations, adjusting our systems and processes accordingly. Clients have access to a suite of online tools, to track and measure compliance functions we perform on their behalf.