SS&C GlobeOp has gained full UK Financial Conduct Authority (FCA) approval for its Depositary Lite service, the provider has announced.
Depositary Lite assists with helping fund managers located outside of the European Economic Area comply with Alternative Investment Fund Managers Directive (AIFMD) obligations, and handles functions in areas such as asset verification, cash flow and oversight.
"We have been operating as a Depositary 'Lite' under the transitional provision for a number of months and we are delighted to now receive our full authorization," says Des Pierce, senior director at SS&C GlobeOp.
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