IMS Consulting launches Pillar 3 investment firm disclosure service

Source: IMS Consulting

IMS Consulting, the UK's largest independent asset management and securities regulatory consultancy, has announced the launch of pillar3.eu, a new service to assist asset managers and securities firms across Europe to comply with new disclosure requirements aimed at achieving greater transparency in the way that banks and hedge fund managers amongst others manage their risks.

Pillar3.eu is a web-based facility that assists asset management and securities firms to make required public disclosures. The public disclosures set out a firm's risk management objectives and policies and explain the basis on which it manages credit, market, operational, concentration and dilutions risks. The new regulations came fully into force during 2008 and the majority of firms will be making disclosure under them for the first time at the end of this year.

IMS developed pillar3.eu as the ideal disclosure venue for investment firms to make the disclosures, enabling them to fully meet EU Pillar 3 requirements whilst maintaining the confidentiality or clarity of purpose of their company website. The service offers an alternative method of disclosure via a passive hosting service which has a dedicated disclosure page for each firm.  This disclosure can be linked to financial statements or other media as required.

IMS Consulting are delighted that Complinet, the global provider of risk-based compliance information and technology solutions, is a launch sponsor for the pillar3.eu site.  They are also very pleased to present a high quality list of advisers who can assist firms draft their pillar 3 disclosures.

Stephen Burke, Managing Director of Consulting at IMS Consulting, commented:

"We believe that Pillar3.eu is the only dedicated venue in Europe to assist firms in meeting the new EU disclosure requirements. In the development of the service, IMS listened closely to hedge fund managers, broker dealers and the wider financial services industry and came up with this simple, straightforward, yet innovative solution. Our experience with working with hundreds of clients on a day-to-day basis is that they are keen to attain high standards of transparency.  Pillar3.eu offers them a proportional approach to achieving this."

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