Thursday, 31 July 2014
Last updated 2 hours ago
Jul 17 2013 | 10:52am ET
Hedge fund consultant Cordium (formerly HedgeOp Compliance and The IMS Group) has launched an offering that will assist hedge funds branching out into the highly regulated mutual fund space.
Cordium's Investment Company Compliance Services will assist mutual fund CIOs in operating under their Rule 38a-1 compliance program. The division is headed by Cordium VP Peter Guarino.
Cordium's Investment Company Compliance Services include: assisting the CCO in the administration of the fund's Rule 38a-1 review, providing ongoing administration of the fund's compliance policies and procedures and reviewing the fund's service providers and their compliance programs.The services also provide transactional and forensic testing of the fund's compliance program as well as a clearly written Rule 38a-1 annual report or quarterly updates, so the board can easily understand the compliance information presented to them.
Said Cordium US CEO Bill Mulligan in a statement: "Hedge fund advisers are looking to offer alternative mutual funds as investors seek access to innovative strategies that offer diversification to their portfolios. Hedge fund managers entering this space will need to enhance and expand their compliance policies to address the specific requirements they must meet as mutual fund providers. It's a natural development of our existing offerings at Cordium for us to broaden into this space.
"Peter recently joined Cordium to lead our Investment Company Compliance Services division, bringing with him nearly 30 years of experience as a 40 Act attorney and CCO, making him the perfect match to spearhead this new initiative for us."
Jul 8 2014 | 10:48am ET
The surge in derivatives regulation is among the most complex challenges facing the financial services industry today. Northern Trust’s Joshua Satten recently spoke with FINalternatives to share insights into the challenges presented by new regulation and explore how the industry is responding. Read more…