SS&C Technologies said that SS&C GlobeOpi has received Financial Conduct Authority (FCA) approval for its Depositary Lite service offering.
The recently launched service helps managers of non-EEA AIFs in fulfilling their Alternative Investment Fund Manager Directive (AIFMD) requirements.
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SS&C will help managers comply with various aspects of the AIFMD including functions relating to asset verification, cash flow monitoring and oversight services.
"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 authorization," said Des Pierce, Senior Director, SS&C GlobeOp.
"We’ve seen strong interest in our Depositary ‘Lite’ service and signed up several fund managers to date," said Bill Stone, Chairman and Chief Executive Officer, SS&C Technologies. "We look forward to adding value to current and future customers with this offering and developing future enhancements as regulations continue to evolve."
i GlobeOp Markets Limited is the regulated entity under which SS&C GlobeOp will provide their Depositary "Lite" services. GlobeOp Markets Limited is a wholly owned subsidiary of SS&C.
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