Back Office & Operations Technology & Risk Management

BNP passes SAS 70 for US fund administration business

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BNP Paribas has successfully completed a SAS 70 Type 2 examination of its US alternative fund administration, fund of hedge fund custody operations, and general computer controls. The examination was conducted by an independent accounting firm.

The Type 2 report includes tests of operating effectiveness on a broad range of controls that cover the setup of funds and investors through financial reporting.

Andrew Dougherty, head of US alternative and institutional solutions, said, “This report recognises the long-standing efforts to build the systems, processes and controls which we deliver to our clients every day. We believe that having the