Magellan adopts new compliance system

2 June 2020

Fund management company Magellan Financial Group has selected BasisCode Compliance as the provider of its personal trading system in Australia.

Headquartered in Atlanta, US, BasisCode was a cloud-based software platform that improved governance and compliance management for financial firms, compliance consultants, law firms and other service providers.

Magellan would implement the BasisCode Essentials, Personal Trading Manager and Insider Trading Manager systems.

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Essentials provided a set of management tools including modules for testing and certifications, and risk assessment.

Personal Trading Manager delivered Code of Ethics and workflow support integrated into the firm’s compliance monitoring system.

Lastly, Insider Trading Manager enabled users to detect suspicious or abnormal trading which may have resulted from the misuse of material non-public information and could be seamlessly integrated into the firm’s trade monitoring system.

Carlos Guillen, BasisCode Compliance president and chief executive, said Magellan were the first Asia-Pacific-based financial services firm to adopt the BasisCode compliance platform.

“We are pleased that we were able to demonstrate that the BasisCode system is ideally suited for fast-growing, global firms like Magellan which need a comprehensive compliance solution that brings functionality and access right down to the desks of local managers,” Guillen said.

“A totally integrated workflow system is a must-have for firms like Magellan and others in the APAC region who serve an expanding geographic client base.”




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