HUNTSVILLE, Ala., Feb. 15, 2010 (GLOBE NEWSWIRE) -- Mobular Technologies, Inc.® ("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
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