This initiative is designed to enhance Ocorian’s regulatory and compliance capabilities in response to the growing demand for guidance and support from asset managers and financial institutions. Bovill, established by Ben Blackett-Ord in 1999, has gained prominence in the financial services sector, servicing more than 580 clients across global offices in the UK, Singapore, Hong Kong, and the United States as per the official press release.

With a commitment to high-quality compliance services, Bovill’s expertise and extensive network will now bolster Ocorian’s existing regulatory solutions provided by Newgate, located in the UK and Guernsey. The combined team consists of over 120 professionals and offers a full range of regulatory and compliance services across sectors including fund management, capital markets, wealth management, and payments.

Leveraging Ocorian’s proprietary GATEway compliance technology, clients will benefit from improved support in navigating the evolving regulatory landscape. In the press release, officials from Ocorian emphasized their dedication to helping clients meet complex regulatory challenges in key jurisdictions while expressing enthusiasm about integrating Bovill’s capabilities into their service offerings.

Bovill officials underscored the potential of collaborating with Ocorian, allowing them to expand globally and provide enhanced expertise through the GATEway platform. They highlighted the company’s achievements over 25 years and expressed confidence in its future within the Ocorian group.

Recent Developments at Bovill

In December 2023, KRM22, a provider of risk management software services, announced a new partnership with Bovill to deliver a market abuse surveillance service. This collaboration aimed to offer an efficient and robust solution for compliance with Market Abuse Regulation (MAR), combining comprehensive compliance knowledge with advanced technology.

The company stated that monitoring market abuse presents continuous challenges for firms, compounded by the pandemic and remote working conditions, which introduce new complexities, especially in detecting insider trading.

Bovill initially conceived a managed service for market abuse with input from a client working group. The firm noted that while larger institutions have historically used technology to identify potential abuses, many smaller firms lacked the resources to implement such solutions or manage resulting data effectively.