Linedata Adds FATCA, AML and PE Updates to Transfer Agency Software

Linedata has released a new version of its transfer agency software Linedata Mshare to include FATCA withholding tax capabilities, anti-money laundering (AML) updates and enhanced private equity functionality.
By Jake Safane(2147484770)
Linedata has released a new version of its transfer agency software Linedata Mshare to include FATCA withholding tax capabilities, anti-money laundering (AML) updates and enhanced private equity functionality.

For FATCA, the new software automates withholding tax processing as the law’s July 1implementation date approaches. As FATCA reporting requirements are finalized, Linedata plans to add more FATCA functionality. Regarding AML, the new software automates the new requirement in various jurisdictions to record and track expiry dates on documentation.

“Keeping ahead of regulation is a key part of Linedata’s product planning,” says Thierry Soret, head of back office asset management at Linedata. “In this instance, it’s FATCA withholding tax, but we are always in dialogue with regulatory and industry bodies as well as with our clients using the advanced transfer agency and investor reporting functionality of Linedata Mshare to ensure that all regulatory requirements are covered in advance.”

Lastly, the software’s private equity support has been extended to include rebalancing and equalization functionality for private equity funds, in order to allow new investors to partake in a fund’s existing capital calls while ensuring that existing investors are compensated.

“We are seeing the rise of the multi-purpose transfer agency function, where a single supplier is servicing traditional asset managers, hedge funds and private equity firms and needs the simplicity of a single system which can address the complexities of many markets,” says Soret. “Linedata Mshare’s enhanced private equity functionality meets this demand, and we anticipate a strong take up from third party administrators.”

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