Linedata Upgrades Luxembourg Compliance for Custodians, Fund Administrators

The updates, Linedata says, revolve around breach management, a 'four eyes' approach to maker and checker internal controls and review processes, and automatic post-trade auditing and report production designed to meet the July 2014 Alternative Investment Fund Managers Directive (AIFMD) deadline.

“With Linedata Compliance, we have confidence in the controls we apply to our clients’ regulatory and statutory constraints. All of our funds are automatically monitored with a full audit trail. Passive breaches are managed using structured workflows reflecting each client’s unique processes, ensuring they are able to satisfy their mandates. This way, using daily post-trade compliance, we are proactive in managing our breaches upfront as well as against breaches that would have a material impact,” says Jean-François Fortemps, managing director of MUGC Lux Management, the management company of Mitsubishi UFJ Global Custody (MUGC) in the country.