ConceptONE is pleased to announce that its recently completed full integration of Asset Control, a provider of financial data management solutions and services, will be instrumental in its efforts to enhance the firm’s OPERA reporting service and its Regulatory Reporting solutions. The extraordinary standard of care surrounding regulatory reporting is paramount and the solution provided by ConceptONE is further strengthened by having Asset Control’s world class software as a core component. Having already invested heavily to meet the demands of the new reporting requirements, ConceptONE can provide advisers the benefit of enhanced consistency around the instrument classification, aggregations and calculations central to Regulatory Reporting.
The integration of Asset Control into ConceptONE’s Regulatory Reporting services and solutions provides a powerful and scalable solution to the challenges facing private advisors in the regulatory filing requirements. ConceptONE’s solution will aggregate, validate and standardize reporting across multiple securities, funds, strategies and administrators, streamlining completion of more complex areas of reports such as Form PF, while Asset Control’s robust security master software will be an integral hub for asset level characterization and stabilize the mappings and definitions needed to provide consistent and accurate filings.
“Investment managers are facing reams of regulations requiring sophisticated reporting capabilities starting with Form PF,” says John Mitchell, vice president of global sales, Asset Control. “Having accurate, accessible and actionable information is key to meeting these requirements as compliance requires unequivocal confidence in the data that supplies a firm’s operational systems. We are delighted that ConceptONE has integrated Asset Control as part of their complete solution for Form PF and other regulatory reporting.”
Dan Connell, President at ConceptONE, added, “The OPERA standards and other newly introduced regulatory reporting requirements is creating major reporting challenges for private advisors. These challenges are uniquely met by ConceptONE’s capabilities in aggregation and risk analytics combined with the integration of Asset Control’s powerful data management solutions. Through the combination of our expertise and Asset Control’s software, we are able to provide complete or tactical solutions for clients.
Large Advisors are required to file quarterly and beginning after the second quarter of 2012, hedge fund private advisors with regulatory assets under management of greater than $5 billion will have 60 days to complete the first Regulatory Reporting filings.