Citi has been appointed by ProShares Trust, which offers alternative exchange traded products, to provide regulatory administration services for its exchange-traded funds.
Citi’s regulatory administration services help clients streamline their internal legal operations by utilizing Citi guidance on regulatory matters impacting registered investment companies. Clients have easy access to core legal documents and can manage workflow related to regulatory filings, compliance policies and procedures and corporate governance matters.
Citi already provides fund accounting, fund administration, transfer agency and regulatory administration for ProShares mutual funds.
“This new agreement consolidates all of our mutual fund and ETF regulatory administration support services with a single provider, and brings Citi’s industry-leading regulatory and compliance expertise to our growing ETF business, says Michael Sapir, chairman of ProShares Trust and ProFunds.
Bob Wallace, North America head of Citi’s Securities and Fund Services, adds: “We are pleased to expand our long-standing relationship with the ProShares organization. We have enhanced our funds services offering by broadening our administrative platforms and capabilities to support the specific needs of exchange traded funds. Partnering with an industry leader like ProShares illustrates our success in this initiative, and underscores our commitment to offering a superior ETF servicing solution to the marketplace.”
(CG)