A late Friday press release "Confluence Helps Fund Administrators Manage New Complex Money Market Fund Reporting Mandates" says, "Confluence, a global leader in investment management data automation, today announced new software to help fund administrators manage complex Money Market Fund Reform Rule reporting recently mandated by the U.S. Securities and Exchange Commission (SEC). Unity Regulatory Reporting delivers an automated solution to the complex challenge of preparing and filing the SEC's required Form N-MFP, via eXtensible Markup Language (XML), and repurposing the same content to create and deliver the necessary web reporting. This automated solution simplifies report generation and delivers complete reports to efficiently comply with the new five-day mandatory turnaround cycle." The release adds, "With the deadlines for Money Market Fund Reform reporting fast approaching, Confluence recommends that fund administrators take action now to understand the data and delivery requirements of the rule and to identify data sources." In other news, see, New York Times' "Fears Intensify That Euro Crisis Could Snowball", which says, "Those steps were not enough to prevent a flare-up in money market funds, a crucial but little-noticed corner of the financial system in which American investors provide more than $500 billion in short-term loans to help European banks finance their daily operations. The cash comes from conservative funds that hold the savings of big American corporations and individual American consumers." See also Dow Jones Financial News' "European regulators prepare for next stage".

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