Risk assess each other in our network for due diligence
What’s network due diligence?
Connect with other companies and access information at any time. Create a “company profile” and share it with many companies. Instead of sending questionnaires and documents to one company at a time. We call it “network due diligence” and believe it’s the most friendly way for both parties.
Many types of due diligence.
Companies in the fund industry have to perform due diligence on more or less all of their partners. It’s an obligation according to national laws and international regulations such as EU directives. We offer a central place where you can gather all of your due diligence processes. Here are a few examples:
- Distributor DD by asset managers (KYD)
- KYC on distributors by Transfer Agents and Fund Administrators
- DD by asset managers on other asset managers
- DD by brokers on asset managers
- DD by asset managers on brokers
- DD on cloud service providers
- DD by inst clients on asset managers (ODD and ESG in Dec -20)
Danske Bank - Setting up a special team for due diligence.
Mikkel Jæger, working for the fund distribution oversight team at Danske Bank, shares his insights on how his team organized their due diligence work in one place with the help of GRC WATCH.
Avanza - 3 types of due diligence.
Linnea Wiklund, Head of Fund Selection at Avanza Bank, is sharing the ROI when handling 3 different types of due diligence in GRC WATCH. Distributor, fund manager and investor due diligence - in one single place.
Lannebo: Distribution oversight.
A few reasons why Lannebo Fonder chose GRC WATCH for due diligence on distributors but also for due diligence on Lannebo (fund manager). Daniel Sundqvist, Head of Sales and Marketing at Lannebo Fonder.
Joint effort by asset managers in Norway.
Norwegian asset managers wanted to comply with the rules in MiFID II related to "mandatory" due diligence on distributors. They also wanted to minimize the work for the distributors and avoid sending a lot of unique questionnaires to them.
Why a mutual questionnaire?
We believe it’s possible to standardize due diligence questionnaires. We chose to start with the questionnaire for distributor due diligence. In 2015 we picked the most common questions and re-phrased a few of them. Since then, we have received feedback by members about additional questions. We have adapted the content to guidelines by supervisory authorities and industry associations. Our compliance team is constantly on the watch for new regulations and questionnaires by leading actors in the fund industry. This illustrates our view of a standardized questionnaire. A content in constant change.