These include enhancements to capabilities for anti-money laundering (AML), Authorised Contractual Schemes (ACS) and reporting for Client Assets Sourcebook (CASS). Beyond the world of regulation, other updates include enhancements to Straight-Through-Processing with an interface to Calastone.

The UK Financial Conduct Authority’s (FCA) Client Assets Sourcebook (CASS) is a detailed set of obligations designed to protect client money against the failure of an investment firm. Linedata Icon Retail has daily reporting on investor balances as an input into the Client Money reconciliation process and the capability to automate the production of Investor Client Money statements for ease of reporting.

Linedata Icon Retail has an enhanced AML verification process taking country and investor risk ratings into account, enabling businesses to quickly establish appropriate proof requirements. AML support also includes a chaser process for completing AML verification.

Authorised Contractual Schemes, the UK’s Tax Transparent Fund structure, are becoming more popular. In addition to enhancements to Linedata Icon Retail’s equalisation capabilities, functionality has been added enabling clients to store additional price data for funds and for output on investor documentation.

In a continuing effort to build greater business efficiency and automation, Linedata Icon Retail has established a fully functional Calastone hub interface, in addition to the previously developed EMX interface. This has given clients greater business efficiency and an automated approach to daily funds processing.

“Our continuing development programme for Linedata Icon Retail means that this transfer agency solution is a strong, robust offering capable of handling high volumes of complex data and compliant with all relevant regulation,” commented Jon Trinder, Fund Services Product Manager at Linedata. “We work closely with our clients to ensure that Linedata Icon Retail and our other Fund Services solutions continue to address the challenges - regulatory, investor-led or other - that they face now and in the foreseeable future”, added Jon Trinder.