Report highlights the dangers of adopting a piecemeal rather than systematic response to changing compliance
Following a wave of regulations coming out of Europe and the US in the past two to three years, research into the Australian investment funds industry has found that local firms have limited awareness of the full impact of the regulatory reforms and that many are lagging behind their European and US contemporaries in adjusting to the new requirements. Furthermore, although the compliance changes have significantly increased the need for reporting, many firms continue to struggle with data that is distributed across multiple systems.
The findings are contained in 'Impact of Global Regulation on Australian Investment Managers', a research report based on interviews with senior executive management representing local investment funds firms. The report was prepared by specialist investment management consultancy, Investit, and sponsored by SimCorp, a leading provider of investment management software and services for the global financial services industry.
