RegSensus Launches After SteelEye-FundApps Merger

SteelEye and FundApps, two London regulatory technology vendors, have formalized their merger and now operate as RegSensus, a company that plans a single platform for trade surveillance, shareholding disclosure and regulatory reporting.

The RegSensus SteelEye FundApps merger was formalized in September and the new brand was unveiled on October 27, 2026. RegSensus is headquartered in London, with operations in India, Portugal, Singapore and the US.

For compliance teams at banks and asset managers, the practical point is continuity. A company spokesperson said existing products, services and client support will not change.

RegSensus SteelEye FundApps merger: what was agreed

The two companies announced a definitive merger agreement on November 3, 2025. The deal took about 10 months to formalize.

FTV Capital, an existing FundApps investor, made an additional equity investment to support the transaction. FTV had made a growth equity investment in FundApps earlier in 2025. Three FTV executives, Brad Bernstein, Richard Earnshaw and Max Weber, joined the FundApps board.

Perella Weinberg Partners advised SteelEye. The companies did not disclose the financial terms of the deal.

Frederic Ceyte, who has been FundApps chief executive since March, is chief executive of RegSensus. Matt Smith, SteelEye’s chief executive, becomes chief corporate development officer. The spokesperson said no other staffing announcements would be shared at this time, and the companies have not published a combined headcount.

At announcement, the combined business served 350 clients in 18 countries, including banks, asset managers, hedge funds and commodities firms. Annual recurring revenue was approaching £50 million. The RegSensus website now cites more than 400 clients, and says the group monitors $30 trillion in assets under management.

What the RegSensus platform combines

The two product lines cover different parts of a firm’s regulatory workload. FundApps supplies shareholding disclosure, position limits, sensitive industries and sanctions monitoring, along with a filing manager and reporting modules for AIFMD Annex IV, Form PF, Form ADV, Form 13F and Form CPO-PQR. Its rules engine is updated as regulations change.

SteelEye brings trade surveillance and communications surveillance. It joins trade activity, communications and market data to detect market abuse and compliance breaches, using surveillance logic, machine learning and AI-assisted alert triage. SteelEye also supports transaction reporting.

The stated aim of the RegSensus SteelEye FundApps merger is one platform that links regulatory obligations, market activity and evidence. The company points to position limits, surveillance and disclosure as areas where the data can be connected and manual handoffs reduced.

The companies describe a suite for both buy-side and sell-side clients, with more automation and unified control. In the November 2025 announcement, FundApps founder and chief executive Andrew Patrick White said the deal was a step for clients and the industry.

What the merger means for current clients

Buyers of either product face no immediate change. Contracts, services and support continue as before, according to the spokesperson. The FundApps and SteelEye names will move to the RegSensus brand in phases, and the companies gave no timeline for that shift.

The companies have not said whether the products will be merged into one application or kept as separate modules sold together. They have also not published a dated integration roadmap. The RegSensus website describes the intent as a connected solution, without release dates.

For compliance officers, the open questions are the ones that matter at renewal. These include whether surveillance and disclosure data will share a common data model, how alert and filing workflows will connect, and how pricing will work for clients that hold only one product.

Both companies hold ISO 27001 certification and operate SOC 2 controls, which vendor risk teams typically review during third-party due diligence. A change of brand or entity can trigger a refresh of that file, including contracts and data processing terms.

FundApps has said its customers include large hedge funds, asset managers, pension funds and investment banks. The announcement did not name SteelEye customers. The RegSensus site displays logos including Fidelity, Schroders, Broadridge, LSEG and SimCorp without saying which are clients and which are partners.

Surveillance and reporting vendors consolidate

The RegSensus SteelEye FundApps merger fits a pattern in the vendor market. Firms that once bought surveillance, position monitoring and filing tools from separate suppliers are being offered bundles that share data and rules.

The logic is practical. A single trade can raise a market abuse alert, count toward a position limit and trigger a disclosure threshold. When those checks run in separate systems, compliance teams reconcile the results by hand.

Rule changes add pressure. The Financial Conduct Authority is changing its regime, and RegTech Post has covered the FCA transaction reporting changes due by April 2028. Firms reviewing their regulatory reporting stack ahead of those dates are also likely to be asking how many vendors they need.

Broader regulatory intelligence is the label RegSensus uses for the combined offer. The term covers tracking rules and turning them into monitoring logic, a function FundApps has built around its rules engine and community of compliance professionals.

Competitors in surveillance and reporting have not been named by the companies, and RegSensus has not published market share figures. Buyers will compare the combined offer against standalone surveillance vendors and against reporting providers that cover similar filings.

What comes next for RegSensus

RegSensus says it will continue to work on automation of compliance functions with AI. It has not published release dates for combined features.

The next markers to watch are the schedule for retiring the FundApps and SteelEye names, the first product release that spans surveillance and disclosure, and any update to the combined client count and annual recurring revenue.