The Swiss private banking, asset and investment management group has partnered with market-leading RegTech provider FundApps to meet shareholding disclosure requirements across its global footprint.
FundApps’ Shareholding Disclosure service will enable them to automate their shareholding disclosure in approximately 100 jurisdictions where specific disclosures are required, for example when accumulating a substantial shareholding in an issuer or when engaging in short selling or owning an issuer subject to a takeover bid. As there is no global standardisation of these rules enforced by the regulatory authorities, financial institutions face significant compliance challenges.
The FundApps service combines a powerful rules engine backed by an in-house team of regulatory experts and legal information provider aosphere (an affiliate of Allen & Overy); a growing community of more than 1,000 users around the world; and dedicated support from a team of compliance experts located in London, New York and Singapore. With support for major shareholding, short selling, takeover panels, issuer limits and more, FundApps will enable Vontobel’s compliance team to enhance and automate their compliance processes.
“The velocity of regulatory change in 2020 has been unprecedented, so the importance of a managed compliance service is evident”, said Andrew White, CEO at FundApps. “Our approach allows us to respond to regulatory change within hours or even minutes rather than days or weeks, without ever needing clients to write rules themselves - something that’s especially relevant these days!”
“FundApps’ Shareholding Disclosure service provides an intuitive and transparent solution to the ever-changing regulatory requirements we face. It will enhance our confidence in the filings we make, the integrity of the data used and the auditability of our shareholding disclosure reporting”, commented Manoj Chopra, Head of Risk Services at Vontobel. “We selected FundApps because of the expertise demonstrated by their team, the quality of their technology and the recommendations received from our industry peers.”