Although fund managers say that preparing to comply with the provisions of the Dodd-Frank Wall Street Reform Act is top of their agendas, they are pretty much in the dark about what to do, according to a survey conducted by SimCorp., a technology firm specializing in investment management.
At a press conference on Friday, SimCorp revealed that seventy two percent of the sixty firms surveyed listed preparing for the new legislation as a top priority. Yet thirteen percent said they don’t have the right systems in place and 64 percent don’t know if they have. About 15 percent said they couldn’t capture all the derivatives position, transaction and contract data in a single repository for an enterprisewide view of risk and performance; about 53 percent said they didn’t know if they could and only 32 percent said they could.
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