Equiniti spearheads shareholder digitisation in response to MiFIDII quarterly statement requirements

Equiniti spearheads shareholder digitisation in response to MiFIDII quarterly statement requirements
10.08.2018 09:53 am

Equiniti spearheads shareholder digitisation in response to MiFIDII quarterly statement requirements

Compliance

Equiniti, the UKs leading provider of share registration services and employee share schemes is delighted to announce the provision of a new digital solution in response to MiFID II’s regulatory challenges.

Regulations stipulate that shareholders in Nominee vehicles – for example, when people purchase shares through their bank or broker – must now receive statements on a quarterly basis rather than annually. Equiniti has developed a digital repository for statements utilising Shareview, its online shareholder portal, to increase accessibility for shareholders and bring environmental and cost-saving benefits for its Corporate Clients.

The statements will give investors online access to a breakdown of trade activity through the quarter as well as the value of assets, shares and outstanding payments.

As part of this development, Equiniti communicated to four million Nominee shareholder participants of the new online capability through Q1 2018. From Q2 2018 the shareholders who did not opt out will have received an email notification that their statements can be accessed through Shareview.

The move spearheads an increasingly digital shareholder landscape and has been overwhelmingly backed by the Nominee shareholders with just 1.5% opting to receive paper communications.

Other benefits to the service include; the reduction of financial fraud; improved trade settlement; and increased optionality in how each shareholder manages their assets.

Mark BullenManaging DirectorShare Registration Services at Equiniti, was delighted that shareholders supported this new solution and hopes that they will see the full value of the online portal and future developments, commenting:

“Despite the administrative challenges it poses, we welcome the move to quarterly statementing. It will increase shareholder engagement with their holdings and hopefully encourage a new generation of participants who view digital access as a pre-requisite when making financial decisions.

“We see MiFID II regulations as an opportunity – rather than a burden – to improve the service we offer investors by providing innovative and secure solutions in a digital world that increasingly demands 24-hour, online access.

Related News

EastNets Appoints New CTO To Enhance Its Technology Vision and Direction

EastNets, a leading global provider of compliance and payments solutions for the financial services industry has announced the appointment of Luay Gadallah as the company’s new... Read more »

Fonetic appoints investment banking stalwarts to new advisory board

Fonetic, a global leader in voice processing, compliance and surveillance technology, has selected three industry... Read more »

Investment Bank of Greece goes live with RiskAvert by Profile Software

Profile Software, an international financial solutions provider, announced today the successful implementation of RiskAvert, its advanced regulatory capital calculation,... Read more »

40% of financial firms at risk of MiFID II penalties, research reveals

The finance sector is facing a multitude of challenges right now. MiFID II has hit at the same time as the General Data Protection Regulation (GDPR) and has required firms to... Read more »

Accuity adds real-time vessel alerting and tracking to trade compliance screening solution

Accuity, the leading provider of financial crime compliance, payments and counterparty know-your-customer (KYC) solutions, today announced its new vessel monitoring capability... Read more »

JHC Sytems analysed the future of compliance

Thursday 31st May, 2018 – Wealth tech firm, JHC Systems (JHC) has published its latest research report ‘Compliance and Regulation in UK Wealth Management: Perspectives, Budgets... Read more »

Magazine
ALL
Free Newsletter Sign-up
+44 (0) 208 819 32 53 +44 (0) 173 261 71 47
Download Our Mobile App