SOURCE: Bonaire

Bonaire

October 13, 2010 13:40 ET

Bonaire Software Solutions, LLC Announces Exclusive Fee Billing Functionality to Address SEC Proposed Changes to Rule 12b-1 Fees

Bonaire Will Be Demonstrating Its REVPORT™ Fee Billing Solution to Brokers, RIAs and Mutual Funds at Charles Schwab's IMPACT 2010 Conference in Boston on October 26-29th

BOSTON, MA--(Marketwire - October 13, 2010) -  Bonaire Software Solutions, LLC, a leading provider of financial services software solutions to asset managers announced it has exclusive functionality and reporting available to its clients who are using the REVPORT™ Revenue Management and Fee Billing software suite. 

In a move similar to their European Commission counterparts (RDR -- Customer Agreed Remuneration) the Securities and Exchange Commission voted unanimously, on July 21st 2010, to propose new rules to replace those currently governing mutual fund distribution and marketing fees, including fees commonly known as 12b-1 fees. The new rules are also intended to improve the disclosure of these fees to investors.

It is proposed that both the ongoing sales charges and the marketing and services fees be disclosed in shareholder reports and on individual sales confirmations.

The proposed rules would also allow funds to establish a share class that could be offered through broker-dealers who would be able to set their own commission and sales charge based on the level of services provided and then charge this fee directly to investors.

"With the increasing oversight and mandates of global regulators, our clients expect Bonaire to stay ahead of the curve and be responsive to their needs and, as an industry leader, that is exactly what we seek to achieve. Having worked with a number of our European customers to ensure that REVPORT is ready to meet the needs arising from the EC's Retail Distribution Review, we can now announce new, exclusive functionality and regulatory reporting that complies with the pending changes in 12b-1 fees, commissions and investor fee disclosure proposed by the SEC.

"Our Commissions module and REVPORT fee calculation engine allows our clients to calculate any of the fee types contemplated by the SEC proposal. For regulatory and compliance reporting and fee detail worksheets, our EMPOWER BI management information and reporting module will further address the SEC's disclosure rules. This unique functionality will address the current and future needs of our mutual fund, wealth management, broker/dealer and RIA clients," said John Bosley, COO of Bonaire.

About Bonaire Software Solutions, LLC

Bonaire is focused on providing software and services solutions to the asset management industry. Clients include industry leading investment managers, mutual funds, wealth managers, broker/dealers, RIAs, banks/trusts, fund administrators and retirement services providers.

Revenue Management Software Products include:

  • REVPORT™ -- Revenue Management platform
    • Fee Billing
    • Multi-currency 
    • Commissions and Revenue Sharing
    • Revenue Management Modelling and Forecasting Analytics
  • PAYPORT -- Accounts Receivables & Collections
  • Payment Matching
  • EMPOWER BI -- Management Information and Reporting

Based in Boston, MA, and London, UK, Bonaire was founded in 1999. Bonaire's software products are available for installation at the client site as well as a SaaS, fully managed hosted option. For more information about Bonaire Software Solutions, please visit www.bonairesoft.com

Contact Information

  • Media Contacts
    UK
    Bonaire Software Solutions
    Gary Liley
    +44 (0) 207 763 6102
    Email Contact

    US
    Bonaire Software Solutions
    Scott Fitzpatrick
    001 617 338 0107 x116
    Email Contact