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COLBENT CASE STUDY Market Timing/Late Trading Settlement >>A major mutual fund firm was ordered to pay restitution to shareholders in the matter of improper trading affecting millions of accounts.
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The Colbent Corporation
is a leading provider of services to transfer agents, corporate issuers, mutual funds and insurance companies, as well as other organizations in need of superior processing of corporate actions or financial services database management projects.Founded in 1986, Colbent has been in the forefront of the industry, applying expertise, sound methods, manpower and pioneering technology to complete critical transaction processing assignments accurately, on deadline and in full regulatory compliance.
Corporate Actions & Securities Processing
A registered U.S. transfer agent, Colbent provides complete, end-to-end service for Equity or Debt Corporate Actions including:
- Merger/Exchange processing
- Tenders/Elections
- Odd Lot buybacks/Round-ups
- Rights offerings
- Dutch auctions
- Redemptions
- Bankruptcies
- Subscriptions
- Thrift conversions
- Demutualizations
- Class Action Settlements
Proxy Tabulation
Colbent's Proxy Tabulation system combines our tradition of service and experience in the financial services industry with state-of-the-art scanning technology, touch-tone voting, internet-capable voting and real-time reporting systems, all built around our core processing system. As a result, we can effectively and accurately deliver any size project - from just 20 accounts to millions. Colbent interfaces with all major proxy solicitation firms, as well other tabulators.
Mutual Fund Settlement Administration
A series of findings against many mutual fund companies beginning in 2003 resulted in the discovery of illegal trading practices. In response, Colbent developed its Fair Fund Settlement Administration System (SAS). In concert with the Plan Administrator, SAS provides a complete business solution for companies that have been mandated to make restitution payments to shareholders. Colbent performs raw data conversions, manages broker outreach programs, applies calculation methodologies and creates payments to shareholders. Other mailings, requests for information, tax certifications or collecting optional payment instructions are all part of Colbent's integrated delivery system.