The burden of increased fund regulation falls heavily on Fund Administrators

Requirements

As regulations on mutual funds become increasingly onerous so the demands on Fund Administrators rise exponentially:

  • Valuations: ensuring that valuations meet regulatory requirements is especially challenging in a world where investments are increasingly complex and hard to value
  • Reporting: regulators require more information to be disclosed to shareholders, fund directors and the regulator themselves
  • AML: the Fund Administrator is expected to undertake increasing amounts of onerous AML checking, monitoring, reporting and training

GRC-Maestro can be used as a quick and efficient GRC solution for Fund Administrators to meet their legal and regulatory requirements.

Challenges

As the number of Funds increases globally the need to administer these funds in a fully compliant but cost efficient manner has never been greater, including:

  • Propsectus compliance: ensuring that the contractual obligations set out in the fund prospectus have been adhered to by the Investment Manager and the Fund Administrator.
  • Unquoted/Illiquid securities: ensuring that securities that are illiquid or unquoted are fairly and consistently valued
  • Reconciliations: checking that all broker, custodian, bank and investment managers statements are reconciled, recorded and discrepancies identified and resolved
  • Director Reporting: providing the Fund Directors with the periodic information they require to manage the Fund and flag exceptions for them as required.

GRC-Maestro offers Fund Administrators the ability to implement GRC controls to meet the AML requirements in multiple jurisdictions, included risk based enhanced monitoring.