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Magellan Financial Group Limited Adopts BasisCode Compliance System in Australia

Magellan Financial Group Limited (Magellan), one of Australia’s leading fund management companies with over A$96 billion in assets, has selected BasisCode Compliance LLC as the provider of its personal trading system.

BasisCode Compliance, headquartered in Atlanta, offers the industry’s most comprehensive, cloud-based software platform that improves governance and compliance management for financial firms, compliance consultants, law firms and other service providers.

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Magellan, headquartered in Sydney, is an investment management firm specialising in global equities with offices in Australia and New Zealand.

Magellan is implementing the BasisCode Essentials and Personal Trading Manager systems. BasisCode Essentials provides a comprehensive set of management tools that simplifies management of the core elements of a compliance program and is ideally suited for organizations with simple or complex compliance management needs. It includes modules for testing and certifications, risk assessment, Forms Studio, gifts and entertainment, whistleblower, document portal, robust reporting and a portal for ease of use and seamless interaction with employees. BasisCode Personal Trading Manager delivers Code of Ethics and workflow support totally integrated into a firm’s compliance monitoring system.

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Magellan has also adopted the BasisCode Insider Trading Manager which is the industry’s first insider trading compliance management software enabling users to detect suspicious or abnormal trading which may have resulted from the misuse of material non-public information. It features an innovative and proprietary detection engine that can be seamlessly integrated into a firm’s trading monitoring systems.

“Magellan Financial Group represents the first Asia-Pacific -based financial services firm to adopt the BasisCode compliance platform,” said Carlos Guillen, president & CEO, BasisCode Compliance. “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. 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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