Investment data technology services are set to be regulated in a number of jurisdictions.
Offshore jurisdictions are beginning to track the operations of these companies, with a view to licensing them.
“In the offshore jurisdictions, they are beginning to develop beneficial ownership records, tracking who owns what, down to the individual vehicle,” Tim Andrews, director of the iD register, an online investment compliance exchange, told pfm.
“They’re also under pressure to become more competitive. Jersey and Singapore are creating registries to license data providers such as the iD register. Guernsey is also consulting on regulating similar services,” he added.
The iD Register, which launched a year ago, is an online platform centralizing due diligence, know your client, Foreign Account Tax Compliance and investor reporting processes for GPs and LPs. The platform removes the need for managers to approach LPs for compliance documents on every occasion, as updated versions can be accessed using the platform.
The tool is updated with regulatory developments by a team at KPMG, led by its Guernsey head of tax, Tony Mancini.
Other software from CITCO, Houlihan Lokey, Augentius and Hamilton Lane’s Cobalt, have focused on simplifying investor reporting, providing detailed investment performance data to LPs and anti-money laundering compliance.
If you do not receive this within five minutes, please try to sign in again. If the problem persists, please email: