SUPERVISION AND REGULATION
Fund administration is an outsourced service where the provider executes middle-office and back-office functions. Fund administrators independently verify the fund assets and valuation under a manager's portfolio. Fund administrators provide administrative solutions to asset and fund managers.
Fund administration provider businesses are regulated under the Fund Administration Provider Business Act 2019 (“the Act”). Supervision involves a programme of regular onsite and prudential visits coupled with extensive off-site analysis. The Authority assesses each Fund Administration Provider Business using a risk evaluation model and generally institutions where the risks are higher or increasing can expect to be subject to a higher incidence of on-site review and prudential meetings.