SEI has launched a new global regulatory management framework for compliance across investment products including structured investments and regulatory jurisdictions. SEI’s investment manager services (IMS) division has developed SEI Firm Compliance as an add-on to its customised global operating platform.
The compliance tool will assist with non-compliance risks and personal liability resulting from regulation, according to Steve Meyer, head of SEI’s investment manager services. The company’s analysis has identified close to 500 financial regulators, exchanges, and industry groups, each with its own requirements. The company’s compliance-related services include automated outsourced regulatory filings, regulatory reporting and record-keeping for compliance functions.
The new tool adds a programme assessment and gap analysis which reviews each firm’s programme against a customised inventory of all regulations affecting its products, across all jurisdictions in which they are sold and regulated; a set of tools for centralised management of all internal and outsourced compliance functions, including a master compliance calendar, timelines and workflows geared to filing deadlines, as well as employee trading and risk assessment modules; and an ongoing compliance updates and program monitoring.
Previous regulatory solutions have been siloed, focusing on one product type, regulator or regulatory regime, and the new offering is a major step forward, providing investment managers with a new level of control over regulatory monitoring, compliance, and risk management, according to Meyer.
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