Milestone Group, the fintech firm owned by BNY Mellon, has launched a new Fair Value Control solution. This new solution is for teams responsible for the administration and compliance of the fair value process and ensuring that funds’ securities are correctly valued in accordance with policy. This solution leverages the pControl funds platform that currently supports over USD20trn in assets.
Fair Value Control’s purpose-built workflows provide automation, transparency, and control to the end-to-end fair value determination process. It unifies stakeholders involved in the process, providing a centralised solution for monitoring, decision-making, and implementation of fair value prices. It reduces operational risk through systematic controls over often fragmented processes and manual handoffs. The solution also improves governance and provides insights to fund managers and fund boards. Fair Value Control is designed for global deployment, with the launch initially focused on the U.S., given industry timelines relating to SEC Rule 2a-5.