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Hedge funds, family offices and traditional asset managers each present their own specialist demands and have had a high regulatory profile for many years. 

An asset manager, whether managing portfolios for Professional Clients, who will have a fiduciary duty of care for Retail Clients, or managing Retail Client portfolios directly, undertakes significant responsibilities from the moment it receives the discretionary investment management mandate from the client.  The firm is exposed to inadequate “Know Your Customer” procedures (regarding investment objectives) which may in a worst case lead to client compensation, enforcement action by the Regulator and subsequent financial and reputational damage.

Control over the activities of investment managers requires robust corporate governance, management information procedures and agreed risk-adjusted investment models, which fit each customer’s risk profile.  There must also be senior management approval of new products and counterparty exposures.  Independent monitoring of portfolio performance and prompt communication with customers of any deviation from agreed models and market exposures is also necessary.

CCL has been assisting our clients in all these areas over many years.  We offer tailored and proportionate systems and controls to ensure that our clients are meeting regulatory requirements and, equally importantly, can manage their businesses with confidence in the operation of these controls.

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