Regulation

Ex-regulators launch Newgate Compliance

Newgate Compliance, an independent consultancy offering bespoke compliance solutions to the global fund management industry, has officially launched.

The launch comes a week ahead of the deadline for authorisations under the Alternative Investment Fund Managers Directive (AIFMD) on 22 July.
 
The firm was co-founded by Martin Herriot and Aron Brown, former CEO and director of Complyport respectively. With over 30 years’ experience in the compliance sector between them, they have operated in the industry from a regulatory, in-house and consultancy perspective.
 
Central to the firm’s offering is The GATEway, a compliance management tool which can simplify the implementation of complex compliance procedures. This is a custom built system, developed by ex-regulators, which can be tailored to the specific needs of a regulated firm. The software includes an online regulatory manual, risk-based compliance monitoring system and a full audit trail and is a key part of the retainer service offering.
 
In addition to the core system, Newgate Compliance offers a number of related services. Primarily, the firm assists clients with authorisation, 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.  Newgate Compliance also provides regulatory training, and ongoing counsel, as a guide through the ever changing UK regulatory climate.
 
Newgate Compliance is already working with a number of fund management clients of different sizes, ranging from USD1 million to USD15 billion in assets.
 
Brown says: “Having now officially launched into the market, we’re excited for the coming months. 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. As well as our bespoke software, we believe the additional services we offer provides our clients with peace of mind, and allows them to once again focus on their core business activities.”

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