Silverfinch Unveils PRIIP Data Solution

Silverfinch Unveils PRIIP Data Solution
20.06.2016 09:45 am

Silverfinch Unveils PRIIP Data Solution

Data , Infrastructure

Silverfinch, the leading look-through and data distribution utility for client regulatory reporting, has launched a new capability to its data model in response to the upcoming Key Information Document (KID) regulation for Packaged Retail Investment and Insurance Products (PRIIPs).

From 1 January 2017, PRIIPs manufacturers will be required to produce KIDs that provide retail investors with information about the features, risks, and costs of investment products. Distribution channels and intermediaries will also have responsibility for delivering the KID to the investor. Without this KID data, insurance firms will not be able to sell products.

Silverfinch has expanded its data model to include the KID data for PRIIPs, enabling asset managers to achieve the most efficient distribution of the data to their insurance-based investment product manufacturers across Europe. This will allow their insurer clients to continue to trade under the new rules.

John Dowdall, managing director of Silverfinch said:

“The upcoming PRIIPs regulation will have a huge impact across insurers and asset managers as data has to be shared in order to comply with the new rules. Insurance firms that wrap asset managers’ funds for sale to retail clients will not be able to do so without a PRIIP KID document and the retail investor needs to confirm they have been given document before investing.

“With just six months to co-ordinate a response which works across all parties, we have received countless requests from asset managers and insurers to provide a solution to this regulation.

“Our PRIIPs capability works in tandem with our existing data model, allowing end users to input and access the data required to achieve compliance. We are looking forward to working with both new and our existing clients across Europe as they navigate this new regulation.”

Related News

MayStreet to Provide Market Data for the U.S. Securities and Exchange Commission’s MIDAS Platform

MayStreet, a modern market data platform engineered to deliver the highest-quality, most complete capital markets data commercially available, today announced it has assumed... Read more »

New breed of CFO has emerged, says Sage report, as data analytics drives finance

A new report from Sage, the market leader in cloud business management solutions, says the role of the Chief Financial Officer... Read more »

IT Businesses Struggling to Bring Greater Gender Balance and Build a Digital Strategy

Male IT workers are outnumbering their female counterparts two-to-one as the sector struggles to bring greater gender balance to its workforce and lacks digital strategies, a... Read more »

78% of Investors Start Investing Before the Age of 35, According to Robo.cash survey

According to a survey conducted by the P2P platform Robo.cash, 78% of P2P investors in Europe made their first investment before the age of 35. One of the reasons to begin... Read more »

Banks in China Risk Losing US$60 Billion in Payments Revenue by 2025, According to Accenture Report

As much as 13% of banks’ payments revenue in China, or US$61 billion, is likely to be displaced by the growth of digital payments and competition from non-banks, as payments... Read more »

Corlytics appointed Stacey English as Chief Digital Officer

Corlytics, the global leader in regulatory risk rating has appointed ... Read more »

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