SEI Enhances Compliance Offering to Help Managers Meet Changing Regulatory Demands

OAKS, Pa., Oct. 4 /PRNewswire/ -- SEI (Nasdaq: SEIC) today announced that it has enhanced its ComplianceAdvantage program to help investment managers ease the burden of increasing regulatory complexity due to recent SEC rule changes. Specifically, SEI has added regulatory filing support and expanded its portfolio compliance monitoring tools to help managers meet the new money market fund requirements. The enhancements demonstrate SEI's commitment to providing clients with ongoing compliance expertise and resources amid heightened regulatory scrutiny.

SEI's ComplianceAdvantage solution provides compliance support and a range of services aimed at assisting the efforts of clients' Chief Compliance Officers. The recent enhancements to the program are in direct response to amendments that have tightened the risk-limiting conditions of Rule 2a-7, the SEC rule that governs money market funds. The rule requires increased transparency in the portfolio review process. To address the changes, SEI's new regulatory filing support service will help managers complete the filing of Form N-MFP required under new disclosure rules going into effect Nov. 30, 2010. SEI will facilitate completion of the form, which requires answers to 84 different items each month, 38 of which must be completed for each individual security.

SEI also expanded its portfolio compliance monitoring tools to include monitoring and reporting of portfolio liquidity, credit ratings, and maturity limitations to address portions of the rule that went into effect in May. In addition to its standard daily testing, SEI performed extensive pre-testing against the new requirements to ensure all of its clients were in compliance prior to the May 28 deadline.

"The goal of enhancements to our ComplianceAdvantage program is to help managers navigate the complexity of the new rules and meet the necessary requirements in a cost-effective and efficient manner," said Jim Volk, Chief Compliance Officer for SEI's Investment Manager Services division. "With the benefit of having well-developed relationships with our managers and understanding their specific compliance needs, we have the expertise and capabilities to perform these additional services ourselves, applying best industry practices and leveraging our knowledge across our client base. We want to make compliance economical and easier for our clients so they can focus on managing their assets and their client relationships, knowing that their compliance and regulatory needs are being addressed."

SEI provides a diverse set of compliance resources to clients including expert guidance on complex issues and timely regulatory topics. As part of the ComplianceAdvantage program, SEI will host its 5th annual CCO Forum on October 7th and 8th. The event brings together investment management CCOs to discuss key trends and topics and to share best practices in the compliance arena.

About SEI's Investment Manager Services Division

SEI's Investment Manager Services division provides comprehensive operational outsourcing solutions to global investment managers focused on mutual funds, hedge and private equity funds, exchange traded funds, collective trusts, and separately managed, as well as institutional and private client, accounts. The division applies operating services, technologies, and business and regulatory knowledge to each client's business objectives.  Its resources enable clients to meet the demands of the marketplace and sharpen business strategies by focusing on their core competencies. The division has been recognized by Buy-Side Technology as "Best Fund Administrator" and by HFMWeek as "Best Funds of Hedge Funds Administrator." For more information, visit http://www.seic.com/enUS/im/352.htm.

About SEI

SEI (NASDAQ:SEIC) is a leading global provider of outsourced asset management, investment processing and investment operations solutions. The company's innovative solutions help corporations, financial institutions, financial advisors, and affluent families create and manage wealth. As of June 30, 2010, through its subsidiaries and partnerships in which the company has a significant interest, SEI administers $380 billion in mutual fund and pooled assets and manages $149 billion in assets. SEI serves clients, conducts or is registered to conduct business and/or operations, from numerous offices worldwide. For more information, visit www.seic.com.

SOURCE SEI