The Fundsphere Compliance UBO Monitoring tool enables ongoing monitoring of ownership in capital and shares within an investment vehicle, providing real-time overview of the ownership of each fund. It supports the ‘Guidance on beneficial owners of legal persons’, published in March 2023 by the Financial Action Task Force (FATF). The tool is easily configurable per jurisdictional requirements. The results are fully independent from month-end reporting, and since ownership percentage calculation is done directly within the application, automated reports on material change of ownership can be scheduled and delivered in real time, reducing manual workload and minimizing the risk of errors.
The FSC UBO Monitoring solution supports financial services companies in their sales and marketing efforts by providing targeted, valuable information about their clients. It also helps them spot changes in the ownership structure (such as new significant shareholders or former beneficial owners that cease to be considered as such) without any delay. What is more, it enables comparison of current and historical data to spot market trends, supporting companies in planning their long-term strategy.