RBC Global Services Australia (RBC) has installed technology from Charles River Developement to provide its fund managers with real-time compliance monitoring services.
The vendor says it has completed a two month implementation of the compliance system, which is part of the Charles River Investment Management System and provides real time pre-trade, post-execution, and portfolio-level compliance monitoring.
RBC will use the technology to offer fund managers real time compliance monitoring services and comprehensive reports to help ensure funds conform to regulatory and legal mandates, prospectus guidelines, and client directives.
Cameron Field, Charles River's Asian-Pacific MD, says: "RBC's offering will help them monitor compliance effectively, adopt new rules and policies as appropriate, and most importantly, avoid violations and penalties."
The application was interfaced to RBC's existing systems, including to DSTi's HiPortfolio and S&P's Rating Services, to enable the straight-through transfer of data and daily reconciliation of accounts.