FMO to Provide Global Solution to Australian Short Position Disclosure Requirements
FMO, the next generation portfolio management system for global hedge funds, announced a new service June 4 that enables asset managers to comply with ASIC Short Selling Disclosure Requirements as outlined in RG196 – Section D.
“The alternative investments industry is in a period of increasing regulatory change, on a global scale. Funds must have systems in place that can quickly adapt to comply with new regulatory requirements as they arise without compromising their underlying strategies. “said Paul Lemphers, Director-FMO Asia.
“This will be an increasing focus for investors as part of their due diligence process”. The ASIC Short Position Reporting Service offered through the FMO Portfolio Management System will enable clients to upload their short position reports to ASIC using the FMO FIX engine.
“We are also providing a simple low cost service for news clients who are not currently on the FMO platform.” said Mr. Lemphers. ASIC have advised a ‘No Action’ relief period until the 21st June 2010 to allow funds more time to implement a solution to comply with RG196 from that date.