FCA approve Lite option 08 July 2014Windsor Reporter: Catherine Van de Stouwe
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The Financial Conduct Authority (FCA) has given the go ahead for SS&C Technologies Holdings’s Depository Lite service.
The service helps managers on non-European economic area alternative investment funds in fulfilling their Alternative Investment Fund Manager Directive (AIFMD) requirements.
SS&C will help managers comply with aspects of the AIFMD that will include functions relation to asset verification, cash flow monitoring and oversight services.
Des Pierce, senior director of SS&C GlobeOp, said: “We have been operating as a Depositary Lite under the transitional provision for a number of months and we are delighted to now receive our full authorisation.”
Bill Stone, chairman and CEO of SS&C Technologies, added: “We’ve seen strong interest in our Depositary 'Lite' service and signed up several fund managers to date.”
“We look forward to adding value to current and future customers with this offering and developing future enhancements as regulations continue to evolve.”
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