Compliance specialists IMS Group acquires MMS Regulatory Solutions

Feb 09, 2011 by Charles Gubert

Consultancy firm IMS Group has acquired MMS Regulatory Solutions (RSL). This is IMS’s first acquisition since it was bought out by private equity buy and build specialist Sovereign Capital in November 2010.

London-based RSL provides compliance consultancy to a variety of clients including hedge funds, investment managers and brokers. RSL’s chief executive Alan Leale-Green will join IMS as a group director along with his team of consultants.

This acquisition comes as Michel Van Leeuwen, group chief executive of IMS, told COO Connect recently there would be greater consolidation among compliance firms as regulation increases. He said: “There are not that many large regulatory compliance firms out there. It is a cottage industry and it is converging and consolidating.”

The asset management industry has been hit by waves of legislation emanating from the US and European Union (EU). The US Dodd-Frank Act will force hedge funds with assets of more than $150 million to register with the Securities and Exchange Commission by July 2011. Meanwhile, the implementation of the EU’s Alternative Investment Fund Managers Directive (AIFMD) is gradually creeping up on fund managers.

Van Leeuwen has set his sights on further consolidation of compliance firms within the UK market. “IMS will continue to consolidate the UK market in addition to focusing on international acquisitions in order to deliver a global solution for the industry’s growing compliance needs,” he said.



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