Ex-Regulators Launch Fund Compliance Service

Jul 14 2014 | 7:38am ET

Two former UK regulators have launched a London-based investment fund compliance advisory service.

Martin Herriot and Aron Brown, former CEO and director, respectively, of Complyport, have launched Newgate Compliance.

Herriot, who will serve as managing director, spent over a decade at the FSA and its predecessor, the Investment Management Regulatory Organisation, together with five years as a CEO of a multinational consulting firm and industry roles at Jupiter Asset Management, Barings, The Royal Bank of Scotland and Govett Asset Management.

Co-founder Aron Brown will also act as a managing director. He has 15 years' experience in compliance and regulation, predominately at the regulator, but has also held a directorship at a large UK compliance consulting firm and operated as an approved person for various firms in the asset management sector.

Newgate will offer bespoke compliance solutions to the global fund management industry. Central to the firm’s offering is The GATEway, a compliance management tool which can simplify the implementation of complex compliance procedures. The software includes an online regulatory manual, risk-based compliance monitoring system and a full audit trail and is a key part of the retainer service offering.

Newgate Compliance has already signed a number of fund management clients, ranging in size from $1 million to $15 billion.

Said Brown, in a statement:

“Having now officially launched into the market, we’re excited for the coming months. We’ve worked hard to develop an offering we believe is unique to the market, and reflects the constant evolution of UK and European regulation. As well as our bespoke software, we believe the additional services we offer provides our clients with peace of mind, and allows them to once again focus on their core business activities.”


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