Not all administrators are convinced prime brokers and legal and accountancy firms can undertake fund administration without real risks of conflict. They are also concerned about third-party risk for the funds, particularly if administration and prime brokerage are in the same place. Others are more relaxed about the possible competition, although all stress the need for Chinese walls to be tightly enforced.
Akshaya Bhargava at Butterfield Fulcrum believes prime brokers and law firms and account
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