SimCorp, a provider of investment management services for the financial services industry, has launched a new legal rule set service for fund managers in Germany, Luxembourg and Switzerland.
The service will be launched in partnership with SimCorp client, Swiss & Global Asset Management, part of GAM Holding.
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The new service will enable Swiss & Global Asset Management to comply with increasing compliance demands as well as with Swiss, German and Luxembourg regulation.
With this new service, users will be able to get immediate notification of any new rules or changes that require system upgrades, as well as frequent regression tests to ensure compliance with legal rule sets.
SimCorp said that it constantly monitors the legal environment and keeps in touch with industry organizations, regulators and auditors to keep informed of new rules affecting securities and derivatives processing.
In addition, the service will allow SimCorp to free internal client resources from maintenance and monitoring tasks and allow them to focus on their core business.
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By GlobalDataTill date, four SimCorp Dimension clients have selected the new service, which is expected to be rolled out globally.
Carsten Kunkel, head of legal practices at SimCorp Central Europe, said: "So far, we already cover more than 400 legal investment restrictions and the number is growing. With our well-equipped Regulatory Center of Excellence, we are ready to serve our clients for any future update to come."
