- Lisa Hurley Honored by Thomson Media for
Contributions to Profession and Investment Industry -
NEW YORK, June 21 /PRNewswire-FirstCall/ -- BISYS, a leading provider of
business process outsourcing solutions for the financial services sector,
today announced that Lisa Hurley, executive vice president and general counsel
for BISYS Fund Services, was named the first-place winner in Thomson Media's
Second Annual Fund Operations Awards. Ms. Hurley won in the leadership
category for her insight and innovation in the rapidly changing and
increasingly demanding regulatory and legislative environment.
Ms. Hurley has been instrumental in monitoring the financial services
industry's regulatory events on behalf of BISYS and its investment management
clients. In response to each regulatory and legislative development, she has
proactively developed compliance programs that enable BISYS' clients to
establish best practices, develop written policies and procedures, eliminate
conflicts of interest, and implement effective oversight and program
verification procedures.
According to Bill Tomko, president of BISYS Investment Services, "We are
very proud that Lisa's leadership and foresight have received well deserved
recognition from Thomson Media. Her proactive efforts keep our clients
consistently informed about regulatory changes, and result in the development
of comprehensive, value-added compliance programs. BISYS is well known in the
mutual fund industry for the excellence of our legal, compliance, and
regulatory services. Our ability to establish and maintain this competitively
distinct and meaningful reputation is based on Lisa's expertise and her strong
team of regulatory professionals with successful SEC, NASD, and compliance
backgrounds that support her efforts. We are especially proud of Lisa's
contributions to the development of our recently launched ComplianceEDGE(TM)
program, which supports our clients' compliance with the SEC's Rule 38a-1."
For more than a year, BISYS' legal, regulatory, and compliance resources,
under Ms. Hurley's leadership, systematically monitored the development of SEC
Rule 38a-1 of the Investment Company Act of 1940, and developed the
ComplianceEDGE program to assist registered investment companies in
establishing a culture of compliance throughout their service organizations
and to facilitate mandatory compliance with the new federal securities law by
October 5, 2004. Initial and ongoing compliance with Rule 38a-1 requires
investment companies to develop, implement, and maintain comprehensive
compliance programs, including written policies and procedures. Rule 38a-1
also requires fund Boards to designate a chief compliance officer (CCO) that
reports directly to the Board and is responsible for the administration of all
compliance programs, and for conducting annual reviews of their compliance
programs.
Lisa Hurley, executive vice president and general counsel for BISYS Fund
Services, said, "Our ComplianceEDGE program enables fund companies to comply
with the SEC's latest mandate, to maintain the highest possible compliance
standards on a continuous basis, and to protect the best interests of their
investors. The initial success of this innovative program and the growing
interest our clients and prospective clients are expressing is extremely
rewarding. And now, the industry recognition inherent in the Thomson Media
award further validates our commitment to regulatory responses, our success
differentiating BISYS' regulatory services, and the tangible benefits our
valued clients are realizing."
Winners of Thomson Media's Second Annual Fund Operations Awards were
announced on June 21, 2004 at The National Investment Company Service
Association (NISCA) General Membership Meeting, and were published in the
June 21, 2004 issue of Money Management Executive magazine. A panel of seven
judges, representing Acadient, KPMG, Bearing Point, kasina, Boston Consulting,
Dalbar, and Bobroff Consulting, selected the winners.
About BISYS
The BISYS Group, Inc. (NYSE: BSG), headquartered in New York City,
provides business process outsourcing solutions that enable investment firms,
insurance companies, and banks to capitalize on convergence by entering new
segments of the financial services industry. BISYS currently supports more
than 22,000 domestic and international financial institutions and corporate
clients through three business units. Its Investment Services group provides
administration and distribution services for approximately 380 clients,
representing more than 2,200 mutual funds, hedge funds, private equity funds,
and other alternative investment products with approximately $735 billion in
assets under administration. BISYS' largest group also provides retirement
services to more than 18,000 companies in partnership with 40 of the nation's
leading banks and investment management companies, and offers analytical
research and competitive information through its Financial Research
Corporation (FRC) subsidiary. Through its Insurance and Education Services
group, BISYS is the nation's largest independent distributor of life insurance
and the premier provider of the support services required to sell traditional
and variable life, long-term care, disability, and annuity products. BISYS is
also the nation's second largest independent wholesale distributor of
commercial property/casualty insurance. This group complements its insurance
distribution services with a comprehensive compliance management solution that
supports insurance and investment firms and professionals with approximately
350 certification and continuing education training courses, and a
sophisticated suite of products and services that automates the entire
licensing process. BISYS' Information Services group supports approximately
1,450 banks, insurance companies, and corporations with industry-leading
information processing and imaging solutions, turnkey asset retention
solutions, and specialized corporate banking solutions. Additional
information is available at http://www.bisys.com.
Except for the historical information contained herein, the matters
discussed in the press release are forward-looking statements within the
meaning of the safe-harbor provisions of the Private Securities Litigation
Reform Act of 1995. These forward-looking statements are subject to risks and
uncertainties that may cause actual results to differ materially, including
but not limited to economic, competitive, governmental and technological
factors affecting the Company's operations, markets, services and related
products, prices and other factors discussed in the Company's periodic filings
with the Securities and Exchange Commission.
SOURCE The BISYS Group, Inc.
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Related links:
http://www.bisys.com
Company News On-Call:
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CONTACT:
Fred Naddaff, President, BISYS Fund Services,
+1-614-470-8100, or Daniel Briggs, Vice President, Finance and
Investor Relations of BISYS Group, Inc., +1-212-907-6134
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