ConceptONE’s Regulatory Enterprise Risk Management (RegERMsm) Solution--an Essential Tool for AIFMD Compliance
New York, NY (PRWEB) July 22, 2013 -- Three days before the effective date of AIFMD, the most comprehensive piece of legislation to impact the asset management industry to date, the SEC and 25 European Union (EU) plus 3 European Economic Area (EEA) Members States entered into Memorandum Of Understanding (MOU) arrangements to coordinate and collaborate in the supervision and examination of their respective registered firms. These MOUs, announced by the SEC on July 19, further the regulators’ goals of ensuring asset managers with cross border businesses conduct their firms in compliance with all relevant regulatory mandates of the individual jurisdictions in which they operate. While cooperation arrangements were expected as part of the AIFMD implementation, this level of information sharing and regulatory coordination amongst the SEC and its European counterparts is unprecedented. These MOUs further evidence the globalization of regulatory oversight and the mandate for comprehensive compliance systems. As the SEC stated in its press release, “the SEC’s supervisory cooperation arrangements, by contrast, establish mechanisms for continuous and ongoing consultation, cooperation, and the exchange of supervisory information related to the oversight of global firms and markets. Such information may include routine supervisory information as well as the information that regulators need to monitor risk concentrations, identify emerging systemic risks, and better understand a globally active regulated entity’s compliance culture. These MOUs also facilitate the ability of the SEC and its counterparts to conduct onsite examinations of registered entities located outside the United States.”
The message is once again a call for asset managers to assess the efficacy of their regulatory infrastructure and develop, implement and maintain effective regulatory enterprise risk management systems. The free sharing of information among global regulators makes it essential that managers align the mechanism for third-party reporting on Forms PF, CPO-PQR, Annex IV and OPERA/Open Protocol as well as DDQs and other marketing materials. AIFMD officially takes effect today throughout the EU. While each jurisdiction may vary in how it approaches the timing (and enforcement) of transposition of the Directive, the clock has begun to tick.
ConceptONE and its expert team of professionals, including a former SEC Enforcement Attorney, risk and hedge fund managers, and its industry leading risk and reporting technology, stand ready to assist managers in meeting these onerous new challenges to their operations and overall business.
1 http://www.sec.gov/News/PressRelease/Detail/PressRelease/1370539728294#.Ue0qRhb5mJU
About ConceptONE, LLC
ConceptONE, LLC is a uniquely positioned Enterprise Risk Management Organization that specializes in Portfolio Risk Management, Regulatory Reporting and Middle and Back Office Services. The Company offers data aggregation services, advanced analytics, complete daily reconciliation, and other types of reporting for a wide range of fiduciaries. ConceptONE differentiates itself in the market-place by adding an interpretation and advisory layer to all of its reporting services. Reports cover many facets of portfolio management, such as absolute risk, exposure, performance, limit monitoring, VaR, stress tests, and other predictive measures. ConceptONE offers complete solutions for regulatory filings (Form PF, CPO-PQR, AIFMD, ESMA), new transparency reporting standards (OPERA), and can cross purpose aggregated data to ensure consistency across all forms of reporting, including but not limited to, Investor Facing Reporting, Internal and External Risk Reporting and Regulatory Reporting. For further information please visit our website, http://www.conceptonellc.com.
Cary Goldstein, ConceptONE, LLC, http://www.conceptonellc.com, 646.840.4977, [email protected]
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