DST Systems has teamed with Boston Financial to offer their clients a new program called Compliance+. The two launched the service in late July.

The service is designed to help fund companies' chief compliance officers meet Rule 38a-1 of the Investment Company Act of 1940.

The service is free for their clients. DST's platform-only clients will receive a slightly different version of the product than the company's full-service clients.

Compliance+ maps applicable federal securities laws to business processes and links those processes to compliance procedures. The results are reported via a "measurement dashboard." Clients can access reports in paper or Adobe Acrobat Reader format, said Jeff Cook, director of regulatory compliance for DST.

Clients can specify what they want in the reports, depending on the level of detail that they want, said Jeff Cook.

"For those who are in the early stages of drafting their policies and procedures – and those who have yet to start – Compliance+ can be the template from which they model and document their own procedures and process flows," stated Cook.

The launch of the service is a preemptive move, said Cook. "Our whole point of doing Compliance+...is to be ahead of the game [in terms of other service providers]," said Cook.

DST and BFS invited clients to discuss the service in Kansas City and Boston, said Jill Metzler, spokeswoman for DST.

DST plans on improving the service depending on feedback, said Cook.

Boston Financial is a joint venture between DST and State Street.  

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