Regulatory Whitepaper

The Securities and Exchange Commission (SEC) has a mandate to eliminate abuse and fraudulent market timing activity due to late day trading in the Mutual Fund industry in the United States. The SEC requires more transparency to the movement of money inside the pension industry. The main issue is that instructions from 401(k) plan participants and plan sponsors are received while the stock markets are open and they are turned into buy and sell orders after the markets close.

There are a number of different record keeping and administration systems in use to which this solution must integrate. As well, there are a significant number of different business operating models that must be considered when creating a solution appropriate to solve an industry wide issue. Any solution must meet the rigid standards set by the SEC and be tamperproof. It must balance the issues of security, reliability, scalability and impact to stakeholders.

Manulife Financial engaged Intelliware to help define the parameters of an application to manage these diverse and stringent demands.

Intelliware created and presented a paper of solution options to a Working Committee in Chicago. Those options are under consideration as an industry-wide solution.