SEI has introduced a solution for the Annex IV reporting required under the European Alternative Investment Fund Managers Directive, helping fund managers to meet transparency rules that will come in to effect on 31 January.
The company’s Manager Services Division already provides regulatory advice and compliance services to 150 clients, including 70 private fund managers. Although the new European rules are similar to the US PF form, they require considerably more data.
The new solution includes data aggregation, regulatory filing, project and workflow management, quality assurance and access to a specialist compliance team and regulation experts.
Philip Masterson, senior vice president and managing director for SEI’s Investment Manager Services division in Europe, said: “SEI has been helping our clients comply with regulatory requirements and client mandates for decades, and investment managers have long identified regulatory compliance as one of their biggest concerns. For this reason, finding new ways to enhance and scale the compliance function remains a top priority as we continually advance our global operating platform.”
He added: “While clients have tried to manage the complexities of AIFMD compliance in-house, they quickly realise the immense level of effort and coordination it entails.”
SEI launched its solution for PF form reporting in 2012, and has been helping clients to meet the requirement of the Dodd Frank Act.
The AIFMD solution has taken 18 months to implement, and involved input from various departments including fund administration, accounting and risk, plus input from global compliance specialists.
Masterson added: “SEI has the advantage of its existing global operating platform and data warehouse, plus our deep expertise in both U.S. and European regulatory regimes. We have also designed the regulatory component of our platform with the flexibility to capitalise on all possible synergies across different reports and to meet new requirements as they come on line.”
