Bowne & Co has launched two new compliance solutions for hedge funds and other registered investment advisers, Bowne ComplianceTrak and Bowne Form SH Generator. Both are powered by HedgeOp Compliance.
Bowne ComplianceTrak software is an integrated compliance tracking, monitoring and reporting system specifically designed to meet the needs of hedge fund professionals. It enables both SEC-registered and unregistered hedge funds to build a solid foundation for their compliance programs and quickly identify potential compliance issues.
ComplianceTrak is also integrated with Bowne Form SH Generator, a tool for hedge funds to efficiently and cost effectively meet new Securities and Exchange Commission (SEC) reporting requirements for short sales, reducing the amount of time spent on these tasks by 75% or more.
'Bowne Form SH Generator is a huge time-saver for hedge funds and other institutional investment managers,' says Bill Penders, President of Bowne. 'It takes a three or four hour process, and completes it -- with great accuracy -- in a matter of seconds.'
Bowne and HedgeOp Compliance, who entered into a strategic alliance in May, plan to enhance the capabilities of their compliance offerings for hedge funds and other registered investment advisers, and future versions will assist clients with other filing requirements. Bowne ComplianceTrak and Bowne Form SH Generator provide clients with new capabilities at the front-end of the reporting process that will be integrated with Bowne's filing, content management, composition, print and distribution capabilities. Additionally, Bowne's capabilities can be leveraged to repurpose funds' financial reporting information for use in sales and marketing collateral.
'For investment managers, building a culture of compliance is not only a must from a regulatory perspective in this new world, it's also a smart business decision that will show investors and potential investors that a manager is running a high-quality, responsible organization,' says Bill Mulligan, CEO of HedgeOp. 'The Bowne ComplianceTrak and Form SH offerings will provide Bowne clients with automated, efficient and cost-effective tools to strengthen their businesses and help them attract assets.'