Asset management firms continue to feel the pressure of a post-financial crisis environment, evidenced by increasing regulation, escalating compliance costs and overall margin compression.
EY found that three-quarters of fund managers cite regulatory compliance as the main cause of declining margins. And while most fund managers saw their people and tech costs increase, 61 percent said they also feel pressure to reduce these costs.
To address these challenges, asset managers need to automate their compliance processes and stay ahead of regulatory demands. EY’s new global regulatory reporting service – EY Comply – helps them do just that. This platform addresses asset management firms’ top regulatory needs by:
- Utilizing a team of regulatory advisors to interpret and implement regulatory updates
- Aggregating data and conducting immediate data quality checks to identify issues early
- Enriching the firm’s data, arming it with a powerful tool set to further validate and check for thoroughness, accuracy and veracity, and checking all calculations to key markers.
Read more about the service here.