Broadridge Launches Ex-Post Reporting Solution for MiFID II

This is the latest of a suite of MiFID II-related services developed by Broadridge's FundAssist business.

The end of the year is fast approaching, and financial firms in the European Union (EU) are gearing up to lodge their obligatory end of year reports under the new MiFID II regulation. To help with this, Broadridge Financial Solutions, a provider of business intelligence for the asset management industry, announced today that it has launched a new solution which will support investment firms with their ex-post reporting obligations.

Under Article 50 of the MiFID Delegated Regulation, investment firms are required to provide annual ex-post information. This includes information about all costs and charges for both the financial instruments and investment services they offer. For this year, the reports must be lodged by the end of April 2019.

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To help firms meet this deadline, Broadridge’s solution will combine and process data regarding investors and products. Specifically, it will calculate the personalised cost information and then create end investor statements.

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This reporting solution is the latest of a suite of MiFID II-related services developed by Broadridge’s FundAssist business. Already, its new solution has generated the interest of one international investment firm. However, Broadridge did not specify which company.

Patricia Rosch, Broadridge
Patricia Rosch
Source: LinkedIn

Commenting on the new solution, Patricia Rosch, president of Broadridge’s International Investor Communication Solutions business, said: “MiFID II compliance adds to the scale and complexity of regulatory change affecting firms operating in European jurisdictions. 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.”

Broadridge acquired FundAssist

Earlier this year in March, Finance Magnates reported that Broadridge had acquired FundAssist Limited. The purchase allows it to compose, manage and distribute digitised regulatory and disclosure documents for fund managers distributing in Europe.

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