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STP Wins Best Fund Administrator
STP is thrilled to announce that we have won Best Fund Administrator at the WealthBriefing WealthTech Americas Awards for 2025.
Now in its 4th year, the WealthBriefing Awards recognizes partners who showcase top-class performance and innovation. These awards highlight the complexity and variety of the sector, as well as the outstanding figures within it.
As a fully independent fund administrator, STP offers a full suite of tech-enabled services that improve accuracy over books and records, streamline operations, and enhance investor relations. Our experienced fund accounting team and leading-edge BluePrint platform deliver end-to-end visibility into your investments to provide the context you need to make informed decisions that align with your business goals. We leverage advanced technology to implement secure processes and controls for the most dependable fund administration possible.
We extend our congratulations to all this year’s winners.
New Hedge Managers Are Bullish on Fund Launches
Emerging hedge fund managers are more optimistic about starting funds this year as they hope to capitalize on increased market volatility and a more welcoming regulatory environment in the U.S. under President Donald Trump.
The higher hopes come after several lean years for the hedge fund market that hit its newest players the hardest. It has been difficult for hedge fund managers to outperform in recent years as stock markets moved steadily higher, according to David Goldstein, director of fund services at STP Investment Service.
More Hedge Funds Move to Outsource Compliance in Changing Landscape
Hedge fund managers are increasingly outsourcing compliance and other back-office functions as they seek to trim costs and differentiate themselves in a highly competitive fundraising environment, according to compliance and tax experts.
While hedge funds have long outsourced operations-heavy tasks such as fund administration, they now are looking for support in other areas of their business.
SEC Scraps Personal Info Disclosures for Trade-Tracking System
The Securities and Exchange Commission is getting rid of personal information disclosure requirements in its market-tracking surveillance program amid concerns over potential data breaches, the agency announced Monday.
The Consolidated Audit Trail, or CAT, is a program which keeps a real-time record of all trading activities across U.S. stock exchanges. The system aims to provide asset managers with time-stamped trades and to limit risks such as front-running or insider trading.
AML Compliance Ahead: Navigating the Upcoming FinCEN Requirements
STP’s Cynthia Kelly, Senior Compliance Consultant was a key contributor to the IAA’s IAA Today Smart Brief on the upcoming FinCEN Requirements.
On August 28, 2024, the Financial Crimes Enforcement Network (FinCEN), part of the U.S. Department of the Treasury, issued its final rule titled Anti-Money Laundering/Countering the Financing of Terrorism Program and Suspicious Activity Report Filing Requirements for Registered Investment Advisers and Exempt Reporting Advisers (Final Rule). This rule significantly expands the scope of anti-money laundering (AML) requirements by including most SEC-registered investment advisers (RIAs) and all Exempt Reporting Advisers (ERAs) (jointly referred to as “advisers”) in the broader regulatory framework that was previously limited to more traditional financial institutions like banks, mutual funds, and broker-dealers.
Asset Managers to Staff: Don’t Touch DeepSeek – Yet
Asset managers are nervous – and intrigued – about the new generative artificial intelligence model from Chinese startup DeepSeek, and are reinforcing their AI-compliance policies with employees. Some industry firms have banned access to the model altogether, while researching whether the technology can make their operations more efficient, consultants told FundFire.
The SEC Wasting No Time Signaling A Shift In Priorities
Without a confirmed chairman in place, the Securities and Exchange Commission (SEC) has wasted no time signaling a shift from the previous administration’s priorities. Acting Chairman Mark Uyeda announced the creation of an agency-wide task force to study cryptocurrencies and establish a regulatory framework grounded in legal clarity.
On the first full day of the new administration, the SEC revealed its intent to explore a “sensible regulatory path that respects the bounds of the law.” This announcement underscores a sharp, yet anticipated, departure from the approach taken under Chairman Gary Gensler during the Biden administration. Gensler’s stance categorized most crypto offerings as securities, demanding registration and oversight by the SEC.
SEC’s Crypto Task Force Clearest Sign Yet of Pivot From Gensler Era
Even without a permanent chairman confirmed to lead it, the Securities and Exchange Commission is wasting no time in signaling a departure from the work of the previous administration.
This week, on the first full day of the new administration, the SEC under acting Chairman Mark Uyeda announced the formation of an agencywide task force to study cryptocurrencies and chart a “sensible regulatory path that respects the bounds of the law.”
Long-Liquidating Alt Fund May Begin Distribution Late This Year
Investors in a Wildermuth Advisory private-equity interval fund that announced liquidation in mid-2023 may start getting their money back this year.
The Wildermuth Fund, which lost its status as a regulated investment company in 2022 because of an overconcentration in illiquid assets, said that it will likely begin making distributions to shareholders in the latter part 2025 — but possibly later, according to a Tuesday filing with the Securities and Exchange Commission.
Liquidating a fund like Wildermuth, which includes early-stage private-company assets, can be difficult, because those assets require a specific buyer, David Goldstein, director of product for fund services at STP Investment Services, said last week.
Read David’s comments in Ignites here.
STP Investment Services Joins Global Elite With Miami Family Wealth Report Award
STP is thrilled to announce that we have been selected the winner for the 2025 Miami Family Wealth Report Awards for RegTech Solution, positioning us as a trusted advisor serving the family office and family wealth space.
The annual Miami Family Wealth Report Awards program recognizes the most innovative and exceptional firms, teams and individuals serving the family office, family wealth and trusted advisor communities in Miami, Latin America & the Caribbean.
Coinbase Ruling Will Let Trump’s SEC Clarify Its Crypto Stance
The SEC’s days of policing the cryptocurrency industry without formal rules are waning after a federal appeals court instructed the agency to provide a better rationale for rejecting Coinbase Global Inc.’s request for crypto-specific rulemaking.
The cryptocurrency exchange on Jan. 13 got a nod from the US Court of Appeals for the Third Circuit in its bid to force the Securities and Exchange Commission to clarify when and how federal securities laws apply to digital assets, though the judges stopped short of explicitly ordering the agency to write a rule.
STP’s Cynthia Kelly, Senior Compliance Consultant, stated, “The crypto industry is asking for more clarity to ensure compliance and not operate in a regulatory gray area.”
Read more on this article in Bloomberg Law here.
Liquidated Alts Fund Has Investors Still Waiting – 18 Months Out
More than a year and a half after Wildermuth Advisory disclosed it would shutter a private equity interval fund, investors are still waiting for their money back.
And the timing of the liquidation process is still anyone’s guess, regulatory filings show.
STP’s David Goldstein, Director of Product—Fund Services, caught up with Sean Teeham to discuss this matter.
“When you have a fund holding private positions, you need a buyer to liquidate. It’s not like owning shares of Ford, and you decide to sell them, so you go on E*Trade and initiate a sale. How do you valuate something that is not for sale?”
Read more about this and what David had to say in Ignites here.
