Broadridge Financial Solutions has integrated FundApps’ regulatory compliance technology with its buy-side portfolio and order management solution to enhance the platform with automated compliance monitoring and reporting tools.
The portfolio and order management solution offers global hedge fund and asset management clients an integrated approach to modelling and executing trades and tracking portfolios in real-time, while also helping firms ensure their compliance and operations are up to date, says Broadridge.
Now they will benefit from FundApps’ compliance-as-a-service solution that automates compliance monitoring and reporting, Broadridge adds.
The combined capabilities promise to provide clients with the ability to leverage a fully automated interface that will support the daily updating of client holdings in the FundApps system and maintain a complete and up-to-date global database of companies and regulatory rules.
According to the partners, the combined offering means clients will benefit from a unique regulatory compliance solution that addresses managers’ needs across shareholder disclosures, sensitive industry monitoring and position limit reporting, removing operational challenges in their search for alpha.
The enhanced platform also aims to offer solutions to clients seeking to avoid fines and reputational damage, reduce reporting time, retire legacy software and prove their adherence to regulatory requirements.
Eric Bernstein, Broadridge’s president of asset management solutions, says: “Through our work with FundApps, we’re incorporating integrated, automated solutions that will remove operational challenges for our clients.”
“The global regulatory landscape has become increasingly more complex over the past several years, and as firms expand into new geographies, managers need to prove their strict adherence to those regulatory requirements," he adds. "This strategic partnership allows firms to spend less time on operational and compliance issues and more time on managing assets and outperforming the competition.”
Ben Battye, head of operations at BennBridge, a multi-boutique investment firm and client of both firms, says the solution enables the firm to “automate many facets of our substantial shareholding disclosure process,” which “allows us to focus our time on other critical parts of the business”.
Andrew White, CEO at FundApps, adds: "Regulation is not a unique problem for firms, so it only makes sense that they pool resources to invest in technology that automates it for them. Think of it as herd immunity - the more compliant each participant is, the less likely they are to spread risk through the community, achieving a level of protection that individual measures can’t reach on their own.”
