Monday, 27 June 2016
Last updated 3 min ago
Feb 3 2009 | 3:09pm ET
HedgeOp Compliance has been awarded a patent on its ComplianceTrak software, a workflow tool that enables hedge fund managers to meet their compliance requirements efficiently and cost effectively, according to the firm.
“In the wake of the financial crisis, and in particular, the damage it has had on investor confidence, investment in compliance infrastructure has become a chief concern for many managers,” said CEO Bill Mulligan. “Investment managers recognize that fulfilling compliance requirements is no longer optional as it becomes increasingly challenging to retain and attract investor assets. ComplianceTrak provides a cost-effective way for managers to achieve a true culture of compliance.”
Because ComplianceTrak was designed as a dynamic web-based application, it can support a compliance infrastructure and process based on the needs of an organization and best industry practices. The tool’s workflow technology enables the end user – whether it is the chief compliance officer or the chief financial officer – to provide the level of detail they require to improve transparency and address greater demands from investors and regulators.
To date, dozens of managers and more than one hundred hedge funds employ ComplianceTrak’s software to meet their regulatory requirements, according to the company.