Broadridge Financial Solutions has launched a new solution to support investment firms with their MiFID II ex-post reporting.
Under Article 50 of the MiFID Delegated Regulation, an investment firm is obliged to provide annual ex-post information about all costs and charges related to both the financial instruments and investment services provided to their clients. The information for calendar year 2018 must be provided to clients no later than the end of April 2019 and must be personalised, based on actual incurred costs and show the cumulative effect that these costs have on the return on investment.
To help with the obligations Broadridge’s solution will aggregate and process investor and product data, calculate the personalised cost information and produce the end investor statements. This will help enable investment firms to meet their regulatory obligations and deliver investor statements ahead of the regulation deadline.
“MiFID II compliance adds to the scale and complexity of regulatory change affecting firms operating in European jurisdictions,” said Patricia Rosch, president of Broadridge’s international Investor Communication Solutions business. “Delivering proprietary end-to-end solutions, based on advanced technology and combined with our exceptional depth of regulatory expertise, helps investment firms manage this highly complex regulatory issue and be prepared to capitalise on what’s next.”
The new solution is part of a suite of MiFID II services developed by Broadridge’s FundAssist business and has signed a deal with a leading international investment firm.
Broadridge acquired FundAssist in May 2018 to expand its best-in-class fund management capabilities and help global funds increase efficiency and transform their compliance frameworks in response to new regulations and market practices. FundAssist provides a complete suite of capabilities to enable the composition, management and distribution of digitised regulatory and disclosure information for global investment firms distributing in Europe.
Charles River Development recently partnered with Broadridge Financial Solutions to help its clients reduce risk and improve productivity. The company said the partnership with Broadridge will enable better integration with the SWIFT network in the Charles River Investment Management Solution (Charles River IMS). Institutional, wealth, asset owner and alternative investment firms use the Charles River IMS to manage more than $25trn in assets. The deal came just months after Broadridge enhanced its Performance Reporting platform by partnering with StatPro.
Copyright © 2018 RegTech Analyst
Copyright © 2018 RegTech Analyst
