Channel Capital automates ASIC Reconciliation Oversight with Fund Recs

Fund Recs today announced that Channel Capital has selected the Fund Recs Velocity platform to fully automate its ASIC (Australian Securities and Investments Commission) Reconciliation process.

Fund Recs’ ASIC Reconciliation solution supports the oversight process and gives firms the comfort their reporting meets an acceptable standard for the regulator. Fund Recs clients benefit from being supported by a highly responsive and knowledgeable team to ensure their regulatory needs are being met.

ASIC is responsible for administering the derivative trade repository licensing regime and for making and enforcing derivative transaction rules that establish mandatory requirements that apply to reporting, clearing and execution of derivative transactions.

Josh Yeo, Chief Operating Officer at Channel Capital said:

"We are delighted to be able to broaden our partnership with Fund Recs. We have built a strong relationship with the Fund Recs team, and as we continue to enhance our services and grow, the best-in-class software will greatly assist us and our investment manager partners with automation and further business efficiencies."

Fund Recs CEO, Alan Meaney, said:

"We are really excited to be expanding our relationship with Channel Capital and to support their ASIC oversight obligations. The addition of ASIC Recon Oversight to our expanding Regulatory Rec offering is an exciting step for Fund Recs and we look forward to continuing to add more in this space."