v27 – It’s a Home Run!

Over the weekend of June 9-11, the Fundserv team and our industry partners successfully implemented the latest set of enhancements to the network and data standards – version 27 (v27). These updates reflect our commitment to reducing time, cost and risk while improving the ease of doing business, so that our members can focus on what matters most to their businesses. Fundserv would like to thank our members and their service providers, for investing their time and effort to make these updates successful.

Some of the v27 implementation highlights include:

  • Fund Setup (FD) File enhancements to assist distributors in identifying unique product features to ensure investors are being offered the most appropriate products
  • Foreign Account Tax Compliance Act (FATCA) & Common Reporting Standard (CRS) enhancements in line with regulatory changes
  • New fields and processes to assist in streamlining the automation of seg fund transactions
  • Standardized Transaction Reconciliation (TS) File reporting of fee redemptions and fee rebates
  • myserv updates to enhance the member experience

The finalization of the scope for v28 (implementation date: June 11, 2018) is underway, and we look forward to your feedback shortly. We plan to publish the draft Business Requirements Document during the first week of August for member feedback.

Prior to v27 testing, Fundserv held an industry town hall to review the plan to support v27 and T+2 testing. More than 150 of our members joined the conference call, providing further clarity and critical feedback. This was so successful that we’ll be doing it again during the feedback phase for the v28 requirements. We are hosting conference-call-only town halls on the following dates:

  • Tuesday, August 15, 2017 2 p.m. to 3:30 p.m. ET
  • Thursday, September 7, 2017 2 p.m. to 3:30 p.m. ET

Details on conference calls and web conferences for members will be published here.

For more information, please contact Tech Support at 1-800-267-3526 or tech@fundserv.com,