Reliance Hub LLC Launches Effort to Improve Compliance in the Hedge Fund Industry by Offering Free Compliance Software

NEW YORK, Sept. 18, 2013 /PRNewswire/ -- Reliance Hub LLC, a New York based compliance consulting firm, and an affiliate of Orical LLP (www.orical.org), is offering free document management, corporate controls and compliance software in an effort to improve the overall quality of operational and conflict control within the investment management industry. 

The software, which Reliance Hub is calling Conflict Control, combines a powerful document management engine with a fully automated compliance program specifically designed for investment advisers, broker/dealers and any other company which desires to maintain a best-in-class operational and conflict controls program.  Conflict Control includes Code of Ethics automation (including automatic personal trade monitoring, restricted list maintenance, automated trade review, forensic trade review, and gift, political contribution and conflict reporting), as well as task management, compliance calendar, electronic form filling, document management and information barrier functionality. 

"Conflict Control has taken us over two years to develop and it is the most powerful and easiest to use compliance and controls solution available today," said Gregory Florio, Reliance Hub's Co-Managing Member.  Mr. Florio is an attorney with over 17 years of investment management experience, including serving as a Chief Compliance Officer for Marathon Asset Management, a New York based private fund manager with over $12 billion in assets under management.  Mr. Florio has designed automated compliance solutions on behalf of investment management law firms, such as Seward & Kissel LLP, and industry-leading hedge funds, since 2002. 

Mr. Florio is taking a broad scale view of this unique offering.  "To our clients and other firms that we believe are taking a best efforts approach to establishing an institutional quality culture of compliance within their organizations, we will give the tools they need to maintain a best-in-class conflicts control system.  By providing compliance software to firms that exhibit the highest business and ethical standards on a no fee basis, we intend to improve the overall level of compliance of these firms with their respective fiduciary duties and eventually to improve the overall public opinion of the industry in general," said Mr. Florio.

Reliance Hub LLC provides outsourced compliance solutions to investment advisers and broker dealers and is an affiliate of Orical LLP, which is an award winning New York based investment management law firm founded by lawyers with extensive large law firm and "buy side" experience serving in senior management roles, including as General Counsels, Chief Financial Officers and Chief Compliance Officers, at some of the industry's largest private fund managers.  Orical offers best-in-class, customized, practical, and technical solutions for the compliance, operational and legal issues facing investment advisers, broker-dealers, issuers and investors.  Orical's services include: SEC Exam Preparation, Compliance Testing, Investor Due Diligence, Regulatory, Registration and Fund Formation Services. 

For more information, please contact Gregory Florio at [email protected] or (212) 705-4285 or Romulad Beneche at [email protected] or (212) 705-4282.  Additional information is available on the Web at www.orical.org.

SOURCE Reliance Hub LLC