HedgeOp Compliance, a provider of specialized compliance software and consulting services for alternative asset managers, said that it has been awarded a patent on its ComplianceTrak software, a workflow tool that enables managers to meet their compliance requirements efficiently and cost effectively.
"Many fund managers are finding that with reduced assets under management and regulation on the horizon, the cost of staying compliant is becoming prohibitive. ComplianceTrak is a customizable web-based system that guides end users as they capture the information required to construct the reporting, monitoring and tracking infrastructure necessary to demonstrate compliance," said Bill Mulligan, HedgeOp's, CEO, in a press release "This patent demonstrates that ComplianceTrak is exceptional in its approach to helping investment managers satisfy SEC requirements," he added.
Because ComplianceTrak was designed as a dynamic web-based application, it can support a compliance infrastructure and process based on the needs of an organization and best industry practices. The tool's workflow technology enables the end user, whether it is the chief compliance officer or the chief financial officer, to provide the level of detail they require to improve transparency and address greater demands from investors and regulators.