Newgate Compliance, a firm launched by two former UK regulators Martin Herriot and Aron Brown, has unveiled a new integrated compliance service.
Known as The GATEway, the compliance management tool is a custom built system that will simplify the implementation of complex compliance procedures.
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Designed for the specific needs of a regulated firm, the software includes an online regulatory manual, risk-based compliance monitoring system and a full audit trail.
Newgate Compliance, which offers bespoke compliance solutions to the global fund management industry, has been launched ahead of the Alternative Investment Fund Managers Directive (AIFMD) deadline on 22 July.
Herriot and Brown, who are currently managing directors for Newgate Compliance, previously served as former CEO and director of Complyport respectively.
Herriot has worked for more than 10 years at FSA and its predecessor, the Investment Management Regulatory Organisation. Prior to this, he has also worked as CEO of a multinational consulting firm and held various roles at Jupiter Asset Management, Barings, The Royal Bank of Scotland and Govett Asset Management.
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By GlobalDataBrown has previously held a directorship at a large UK compliance consulting firm and operated as an approved person for various firms in the asset management sector.
Additionally, Newgate Compliance will also deliver a number of related services such as assisting clients with authorization, by project managing the application process, and offering value added services to start-up firms such as FCA umbrella coverage and recruitment services through its affiliate firms.
It will also offer regulatory training, and ongoing counsel, as a guide through the ever changing UK regulatory climate.
Newgate Compliance has already worked with a number of fund management clients, ranging from US$1 million to US$15 billion in assets.
Brown said: "We’ve worked hard to develop an offering we believe is unique to the market, and reflects the constant evolution of UK and European regulation."
