InvestorPOS Signs Agreement with another Schedule I Bank.
InvestorPOS™ is pleased to announce an agreement with a Schedule I Bank, licensing use of its FF Xpress™ Fund Facts document repository to provide a fully managed solution for the ongoing web hosting of the bank’s Fund Facts documents. FF Xpress™ will now present Fund Facts documents on the banks’ various web sites, thereby eliminating the need for I.T. to maintain the latest approved documents. The bank approached InvestorPOS™ in June, in response to amendments to National Instrument 81-101 which now require fund companies to publish Fund Facts on their web sites for access by advisors and investors. While a seemingly simple requirement, publishing this number of documents (approximately 850 Fund Facts for this bank) to various web properties has created significant internal workload for fund managers to ensure that Fund Facts are the most current, easily found, and maintained documents on an ongoing basis. As Fund Facts must be re-filed annually and posted to the web sites at various times in the year as they are receipted, the burden on internal resources and the compliance risk in presenting out-of-date Fund Facts documents only increases. FF Xpress™ addresses this challenge with an outsourced solution that meets regulatory requirements.