"The alternative investments industry is in a period of increasing regulatory change, on a global scale. Funds must have systems in place that can quickly adapt to comply with new regulatory requirements as they arise without compromising their underlying strategies. âsaid Paul Lemphers, Director-FMO Asia.
âThis will be an increasing focus for investors as part of their due diligence processâ.
The ASIC Short Position Reporting Service offered through the FMO Portfolio Management System will enable clients to upload their short position reports to ASIC using the FMO FIX engine. âWe are also providing a simple low cost service for news clients who are not currently on the FMO platform.â said Mr. Lemphers.
ASIC have advised a âNo Actionâ relief period until the 21st June 2010 to allow funds more time to implement a solution to comply with RG196 from that date.