December 02, 2008 Toronto-based Manulife Bank of Canada has selected FRSGlobal (Brussels), a provider of risk and regulatory compliance solutions, to help it meet its regulatory requirements. The FRS will help the bank comply with Canadian Statutory reporting (SRDM) and Canadian Basel II Standardized reporting (BCAR) requirements.

FRSGlobal is working with Manulife Bank's central project management advisory and IT finance divisions to ensure a smooth implementation and expects to complete the project by December 2008, in time for a parallel run of the Q4 2008 financial reporting needs. The bank aims to fully transfer over to FRSGlobal's automated solution by Q1 2009. Manulife Bank is also interested in pursuing FRSGlobal's Basel II New Credit Risk (NCR) reporting solution at the completion of these software installations.