Wells Fargo Institutional Trust Service today started its Investment Guideline Monitoring service, an automated program that helps its institutional custody clients monitor risk exposure and compliance with investment and regulatory guidelines, confirmed spokesman Drew Wineland. "The program can be customized, so if a client does not want tobacco investments, for example, or if a firm does not want equities to go above 70%, the program can watch for that," Mr. Wineland said.
"Companies and public entities are subject to increased scrutiny in all aspects of their organizations with the implementation of the Sarbanes-Oxley Act and the establishment of the Public Company Accounting Oversight Board," Beth Baumann, director of trust and custody products, said in a news release.
Wells Fargo had about $206 billion in assets under management as of June 30.
