has signed Wachovia Securities
for its FundPoint Data. The broker-dealer is the third largest to sign onto the mutual fund data service. The brokerage uses the data to keep up with fund rules as part of its mutual fund trade verification systems, according to NewRiver.
The issue of complying with fund rules in trading as become more complex as fund firms revise rules in wake of the fund trading scandals.
The FundPoint data is derived from SEC Edgar mutual fund filings, according to Melinda Warren, assistant vice president and compliance control manager for Packaged Products.
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