Sydney, Australia – Fund Recs has been selected by Perpetual Corporate Trust (PCT) to provide independent reconciliation and oversight of OTC derivative reporting across funds for which PCT acts as Trustee or Responsible Entity.
The arrangement forms part of PCT’s ongoing commitment to strong governance and meeting evolving regulatory obligations.
As Trustee and Responsible Entity, PCT must ensure OTC derivative reporting is complete, accurate and current, including where reporting activities are delegated to third parties. The implementation of Fund Recs introduces an independent reconciliation framework that compares reported transaction data against underlying source information, providing additional monitoring, exception identification and oversight assurance.
Fund Recs was selected following an assessment of available solutions based on functionality, scalability and alignment with PCT's requirements.
Vicki Riggio, General Manager, Managed Fund Services at PCT, said “Strong fiduciary oversight requires clear visibility of the activities undertaken on behalf of our funds, including where reporting is delegated to third parties. Fund Recs adds an independent layer of reconciliation, helping us identify reporting exceptions and strengthen oversight of OTC derivative reporting.
“This investment reflects our commitment to combining specialist expertise with scalable technology to support robust governance as regulatory requirements evolve.”
Alan Meaney, CEO at Fund Recs, said "we are pleased to support Perpetual Corporate Trust in enhancing its OTC derivatives oversight framework. Our platform is designed to provide independent reconciliation, transparency and auditability to help organisations address increasingly complex regulatory requirements."
The Fund Recs solution forms part of Perpetual's broader approach to maintaining a strong control environment across its fiduciary operations. By providing independent reconciliation and exception management capabilities, the platform supports a scalable and sustainable oversight model designed to meet current and future regulatory requirements.
About Fund Recs
Fund Recs is the oversight layer for the fund industry. Its platform helps fund administrators, asset managers, depositaries and management companies automate operational controls, consolidate fragmented processes and keep clear evidence of oversight. By applying controls continuously and surfacing exceptions for review, Fund Recs lets firms scale their operations and adopt AI while keeping accountable people in control.
About Perpetual Corporate Trust
Perpetual Corporate Trust (PCT), part of Perpetual Group, is a leading provider of corporate trustee, custody and digital infrastructure services across Australia and Asia. Combining 140 years of heritage with financial markets expertise, PCT supports debt markets, managed funds and institutional clients through fiduciary oversight, regulatory reporting, securitisation and technology-enabled solutions. The business helps clients manage assets, meet regulatory obligations and scale operations in increasingly complex financial markets.