From our recent regulatory compliance webinar we have seen that there has been a continued pressure on firms and compliance staff to ensure they are meeting regulations such as AIFMD, KYC and AML. Ron Gould from Compliance science stated that Technology will be a key factor in determining which firms win and which sink.
From a our own survey we found that Less than 10% of MiFID and AIFMD systems and only 10%-25% of KYC and AML systems were well automated. This is a very low level of automation and could well mean that your organisation’s compliance processes are in danger of being ineffective.
The key challenges for Investment Managers within regulatory compliance were felt to be: how to reduce the cost of compliance, to have one system to capture compliance evidence and to be able to modify systems in line with varied and changing regulatory requirements.
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