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 Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( . 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 Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you .
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.
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.
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.
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.
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 Regulation Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( Like any other industry with a high net worth, the financial services industry is tightly regulated to help curb illicit behavior and manipulation. Each asset class has its own set of protocols put in place to combat their respective forms of abuse.In the foreign exchange space, regulation is assumed by authorities in multiple jurisdictions, though ultimately lacking a binding international order. Who are the Industry’s Leading Regulators?Regulators such as the UK’s Financial Conduct Authority ( . 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 Obligations In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you In finance, an obligation is a financial responsibility where the terms of a contract must be met. Should an obligation between parties fail then the party who is at default may face legal action. In this scenario, the guilty party will not only have to agree to pay the set amount to fulfill the contractual arrangement but may also be responsible for covering all legal proceedings cost. Routine payments or outstanding debt of any kind are considered financial obligations, so if someone owes you .
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.
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.
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.
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.