âMany fund managers are finding that with reduced assets under management and regulation on the horizon, the cost of staying compliant is becoming prohibitive. ComplianceTrak is a customizable web-based system that guides end users as they capture the information required to construct the reporting, monitoring and tracking infrastructure necessary to demonstrate compliance,â said Bill Mulligan, HedgeOpâs, CEO. âThis patent demonstrates that ComplianceTrak is exceptional in its approach to helping investment managers satisfy SEC requirements.â
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 toolâs workflow technology enables the end user â whether it is the chief compliance officer or the chief financial officer â to provide the level of detail they require to improve transparency and address greater demands from investors and regulators.
Since its development in 2001, ComplianceTrak has evolved into a front-end application that supports managers ranging from those with multi-billion dollars assets under management to startups. To date, dozens of managers and more than one hundred hedge funds employ ComplianceTrakâs software to meet their regulatory requirements, at a fraction of the cost of developing internal compliance systems.
âIn 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,â Mr. Mulligan said. âInvestment 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.â
ComplianceTrak is built on intellectual property that enables it to be both intuitive and customizable. End-users access ComplianceTrakâs secure portal via the Internet on a real-time basis, providing personalized information to the program that allows it to develop a set of tasks and documentation required by the manager in order to manage the compliance process.