GlobeNewswire
2010-02-15
Fully Automated Summary Pro AR(TM) Supports Mutual Funds and
Variable Annuity Companies
HUNTSVILLE, Ala., Feb. 15, 2010 (GLOBE NEWSWIRE) -- Mobular
Technologies, Inc.(R) ("Mobular") today announced the successful launch
of Summary Pro ARTM, the industry's only technology-based solution that
guarantees same day availability on the web, a requirement of the
Summary Prospectus rules. Only one month after the effective date of
the regulations, more than 500 funds have agreed to implement Summary
Pro ARTM.
Summary PRO ARTM is a software solution that completely automates the
compliance document collection, processing, electronic presentation and
linking of the Summary Prospectus to Statutory Prospectuses, Statements
of Additional Information (SAIs) and supplements to meet the layered
disclosure requirements for improved investor transparency set forth by
the SEC. This proprietary application eliminates the need for any
manual processes in document collection or bookmark application, and
retains the security of the original, fund-branded compliance
documents. Supplements and updates to published documents are
automatically received, processed, linked and presented on the web in
near real-time, meeting the same-day requirement of the SEC for
compliance document availability.
Summary PRO ARTM also supports the Variable Annuity industry with an
automated approach to delivering compliance materials on the web,
including access to both proprietary and non-affiliated fund materials.
Mobular has long been known as an industry standard for interactive
compliance document presentation on the web, providing eProxy and other
electronic document delivery services for the world's largest banks and
transfer agents, both domestically and internationally. "We developed
what we believe is the best model for layered disclosure, based on the
rules set forth by the SEC last year. Our solution allows mutual funds
to completely meet the requirements of the rules, while providing their
investors the best interactive user experience on the web," stated
Allen Dillard, CEO of Mobular.
For more information about Mobular and to see live demonstrations of
the Summary Pro ARTM solution, visit the website at www.mobular.com
The Mobular Technologies logo is available at
http://www.globenewswire.com/newsroom/prs/?pkgid=1273
CONTACT: Mobular Technologies, Inc.
Allen Dillard, Chief Executive Officer
256-882-9011 x120