Filing software enhanced to reflect final ESMA guidelines and technical specifications
NEW YORK & LONDON, November 4, 2013 — Advise Technologies, LLC, an award-winning software solutions provider for global regulatory and investor reporting, announced today that it has released upgraded reporting and electronic filing software for the Alternative Investment Fund Managers Directive (AIFMD) to coincide with the new guidelines released by the European Securities and Markets Authority (ESMA).
On October 1, ESMA released final guidance on reporting obligations under the AIFMD. The release included a consolidated reporting template, an opinion letter, and updated technical specifications, all of which have been incorporated into Advise’s revamped software to provide a working solution that fully reflects the most recent guidance.
The consolidated reporting template put forth by ESMA in the final guidance includes significant changes from the previous guidelines that were released earlier this year. As a result, regulatory and compliance software providers were required to make changes to their reporting software, validations, and the XML schema. Advise has incorporated all of these changes to its solution and will continue enhancements to the reporting module as final submission requirements are published from each of the European Union (EU) member states.
The AIFMD electronic filing solution is available on Advise’s Consensus RMS platform, which offers the foundation for a robust and repeatable reporting process. Advise initially launched it AIFMD solution in July to coincide with the July 22, 2013 compliance deadline. The Consensus RMS platform allows managers with multiple reporting obligations to complete the process from a single platform and utilize one data set ensuring efficiency and consistency across filings.
“Advise is engaged with a number of fund managers and service providers on AIFMD projects. By leveraging our software solution, funds and fund managers have a short journey to enrich and extend the data that is already compiled for other filings, like Form PF and CPO-PQR,” said Adam Capon, Head of Relationship Management at Advise Technologies. “Any new regulatory filing will bring nuances and complexities that require detailed planning. We help clients plan for all eventualities including the increased complexity that a multi-jurisdictional filing such as AIFMD brings to the table.”
Advise’s Consensus RMS offers integration with key accounting, risk, data warehouse, investor relations and other systems. The solution currently supports AIFMD, Form PF, CPO-PQR, 13F, and Open Protocol (OPERA) reporting.
For additional information on Advise’s AIFMD electronic filing solution, please contact info@AdviseTechnologies.com.
About Advise Technologies, LLC
Advise Technologies, LLC, provides proven software solutions that facilitate regulatory compliance for private fund managers and their service providers. Through its Consensus RMS suite of desktop and enterprise-grade solutions, Advise supports a full range of global regulatory reporting including Form PF, CPO-PQR in the United States and the AIFM Directive in the European Union. The firm also provides a complete document management system through its Vault DMS suite which helps locate, track and automate key documents, respond to regulatory exams, and comply with FATCA. Built by financial industry veterans, Advise empowers clients to automate traditionally resource-intensive and error-prone processes to ensure intuitive, fast, and cost effective electronic regulatory reporting and document management. The firm is headquartered in New York. For more information, please visit www.AdviseTechnologies.com.
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