Citigroup’s Global Transaction Services unit has introduced a suite of regulatory administration and compliance support services developed specifically for hedge funds, private equity funds and their SEC registered investment advisers.
The regulatory administration services will work at the direction of clients to draft routine contracts, policies and procedures and regulatory filings.
Citi’s team will work closely with clients to manage routine tasks to help minimize expenses while leveraging Citi’s regulatory and compliance expertise.
The service will also have access to Citi’s Fund Governance Portal, a data and document collaboration tool designed to enhance the client experience, for the participating clients.
Citi’s compliance support services for alternative investment clients center on the administrative and testing support of clients’ compliance programs.
The service provider testing program has an internal team that conducts a variety of forensic tests against clients’ compliance procedures and immediately escalates concerns or patterns identified along with the supporting documentation to an adviser’s compliance professionals.
Citi North America Securities and Fund Services head Bob Wallace said that the services are launched for hedge fund and private equity fund investment advisers to help them navigate a rapidly evolving regulatory environment.
“We designed these regulatory administration and compliance support services based on our deep experience with traditional mutual funds and their registered investment advisers,” Wallace said.