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    Regulatory fatigue hits compliance bosses

    Posted by Andrew White on Feb 15, 2013

     

    There was an interesting article in the FT about how the torrent of new regulation affects the Asset Management industry. It went on to say:

     

    "Across Europe, keeping pace with the volume and complexity of new regulation at global, regional and local level is the biggest worry causing compliance chiefs to stay awake at night. Most respondents – 90 per cent – from more than 40 large asset managers struggled to cope in 2012, compared with 69 per cent a year earlier."

     

    and in particular:

     

    "Top of compliance chiefs’ list of priorities are the Alternative Investment Fund Managers Directive (AIFMD), Ucits IV and V and the Foreign Account Tax Compliance Act (Fatca), US legislation with an extraterritorial reach."

    FundApps already has a full UCITS IV monitoring and reporting system in Rapptr and will shortly be launching a new rule set for AIFMD monitoring.

    The combination of modern internet technology and a rule set maintained by experts really helps our customers face this huge challenge.