The “cloud” may sound like a pretty amorphous word but for asset managers. But the recent recession, market volatility and regulatory requirements have made it pretty real.
With the Dodd-Frank Wall Street Reform Act, European Union mandates such as the Undertakings for Collective Investments in Transferable Securities, the European Market Infrastructure Regulation and the Alternative Investment Managers directives, asset managers will need to assume a greater compliance burden — one that will require additional recordkeeping resources.
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