SS&C GlobeOp has obtained Financial Conduct Authority (FCA) approval for its Depositary “Lite" service offering.
The recently launched service helps managers of non-EEA AIFs in fulfilling their Alternative Investment Fund Manager Directive (AIFMD) requirements.
SS&C will help managers comply with various aspects of the AIFMD including functions relating to asset verification, cash flow monitoring and oversight services.
"We have been operating as a Depositary 'Lite' under the transitional provision for a number of months and we are delighted to now receive our full authorisation," says Des Pierce, senior director, SS&C GlobeOp.
"We've seen strong interest in our Depositary 'Lite' service and signed up several fund managers to date," says Bill Stone, chairman and chief executive officer, SS&C Technologies. "We look forward to adding value to current and future customers with this offering and developing future enhancements as regulations continue to evolve."
i GlobeOp Markets Limited is the regulated entity under which SS&C GlobeOp will provide its Depositary "Lite" services. GlobeOp Markets Limited is a wholly owned subsidiary of SS&C.