The new functionality is available solely to Bonaire's globally based clients who are using the REVPORT 8.5 Revenue Management and Fee Billing software suite.

The Financial Services Authority (FSA), the financial regulator in the UK, on Nov. 17, 2010, published proposals requiring platform services to fully meet the requirements of the RDR (Retail Distribution Review) starting January 2013. The RDR changes propose that both the client and the adviser will decide the cost of advice - not the adviser and product provider as has been the case. Additionally, it stipulates the customer be made aware of the costs associated with advice or product whereas in the past the information could only be viewed on request. In January 2013, the platform services used by adviser and customers must support a market where free advice and commission bias no longer exists.

These requirements are similar to the January 21, 2010 SEC proposed changes that would replace the existing rules governing mutual fund distribution and marketing fees, including the commonly known 12b-1 fees. In each country, the new regulations require new fee billing functionality to comply. Bonaire's REVPORT software suite is the first revenue management solution to be able to accommodate the new regulations.

"With the increasing oversight and mandates of global regulators, our clients expect Bonaire to stay ahead of the curve and be responsive to their needs and, as an industry leader that is exactly what we seek to achieve. Having worked with a number of our European customers to ensure that REVPORT is ready to meet the needs arising from the Retail Distribution Review, we can now announce new, exclusive functionality and regulatory reporting that complies with the pending changes in commissions and investor fee disclosure, said John Bosley, COO of Bonaire.