SimCorp Launches New Legal Rule Set Service to Comply with Increasing Compliance Demands
NEW YORK--(BUSINESS WIRE)--SimCorp, a leading provider of investment management solutions and services for the global financial services industry, today announced the launch of its Legal Rule Set Service for fund managers – initially for Germany, Luxembourg and Switzerland.
“So far, we already cover more than 400 legal investment restrictions and the number is growing”
SimCorp client, Swiss & Global Asset Management, has been piloting the new service offering. Swiss & Global Asset Management is part of GAM Holding AG, an independent, pure-play asset management group. The group has assets under management of CHF 115.3 billion (as at 31 March 2014). Swiss & Global Asset Management uses the new Legal Rule Set Service to comply with Swiss, German and Luxembourgian regulation.
SimCorp continuously monitors the legal environment and keeps in touch with industry organizations, regulators and auditors to keep abreast of new rules affecting securities and derivatives processing. Users receive immediate notification of any new rules or changes that require system upgrades, as well as frequent regression tests to ensure compliance with legal rule sets. By taking over this responsibility, SimCorp frees internal client resources from maintenance and monitoring tasks and instead lets them focus on their core business.
“So far, we already cover more than 400 legal investment restrictions and the number is growing,” says Carsten Kunkel, Head of Legal Practices at SimCorp Central Europe. “With our well-equipped Regulatory Center of Excellence, we are ready to serve our clients for any future update to come.”
Currently, four SimCorp Dimension clients have opted for the new service, which is intended to be rolled out globally.
Since 1971, SimCorp has been providing investment and portfolio management software and services to the world’s leading investment managers, asset managers, fund managers, fund administrators, pension funds, insurance funds, and wealth managers. Based on its world-class software platforms, SimCorp Dimension and SimCorp Coric, SimCorp provides global financial organizations with the tools they need to mitigate risk, reduce cost, and enable growth. Listed on the NASDAQ OMX Copenhagen, SimCorp is a global company, regionally covering all of Europe, North America, and Asia Pacific. For more information, please visit www.simcorp.com.