Products November 20, 2003

BNY Rolls Out Hedge Fund Investor Validation Tool

November 20, 2003 (PLANSPONSOR.com) - The Bank of New York has released a compliance and investor validation service for hedge fund managers providing accounting, administration, and other investor services.
Reported by

The tool is designed to assist hedge fund managers in complying with regulatory requirements by providing over 50 business and regulatory compliance tests and validations relating to investor eligibility and qualifications.  Additionally, the service offers summary and compliance testing and reporting to allow  for  the  monitoring  of investor thresholds, according to a news release.

Covered in the profiling are anti-money laundering and “Know Your Customer” screens.   In addition the module gives users the ability, on a real-time  basis,  to confirm that this activity adheres to regulatory guidelines. 

More information is available by contactingKevin Heine at (212) 635-1569.

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