Bringing you live news and features since 2006 

Silverfinch John Dowdall

Sourcing data biggest issue for MiFID II and PRIIPs, say industry insiders


RELATED TOPICS​

Sourcing the vast amount of data needed to meet the new regulatory requirements of MiFID II and PRIIPs is the biggest challenge facing both asset managers and insurers, according to a survey undertaken by Silverfinch.


Four-fifths of insurers said the collection and aggregation of data for PRIIPs was the most challenging requirement, trumping the calculation or document production aspects of the rules. For asset managers, a similar number said collecting the data was the biggest challenge for MiFID II, well ahead of concerns related to issues such as template construction. 

 
More than 90 per cent of respondents in the survey said they saw deliverability or experience as the most important issue when searching for partners to help them with these new rules, demonstrating that financial businesses recognise the importance of compliance with the regulations when they come into force in January.

 
At the same time, half of those surveyed cited a lack of internal cohesion as the main problem when it came to dealing with regulation, highlighting the need for a strategic approach to be introduced to simplify the regulatory process and reduce the risk of errant or conflicting data being produced.

 
Silverfinch managing director John Dowdal (pictured), says: “Many commentators have missed the fact that the biggest challenge with these new rules is the task of assembling the data from manufacturers in a standardised format that can then be passed on to the distributors that need it. What our survey shows is that those caught up in the maelstrom – the asset managers, insurers and wealth managers who will have to deal with this regulatory cliff edge – recognise the challenge of data gathering.
 
“A regulatory data exchange is the only way to overcome this hurdle – allowing asset managers to provide their information in a standardised format and then sending that data to the relevant distribution network.”

Latest News

BlackRock s iShares an undisputed leader among European ETF issuers pushed further ahead in Q1 with EUR173 billion in trades..
European ETFs raised USD47 8 billion in Q1 a 15 per cent increase compared to the same period in 2023..
LSEG Lipper s March report finds that globally equity ETFs +EUR113 2 billion enjoyed the highest estimated net inflows for..
Morningstar has published a review of the European ETF market for the first quarter 2024 which finds that it gathered..

Related Articles

etf active trading
Latest Morningstar data shows actively managed ETFs share of the US ETF market rose to 8 5 per cent at...
Kristen Mierzwa, FTSE Russell
Index Investments Group IIG a division within index provider FTSE Russell has extended its range of indices through two new...
ETFs
US ETF issuers of active ETFs are facing an increase in fees from the big custodian firms such as Charles...
Taylor Krystkowiak, Themes ETFs
Themes ETFs opened its doors in December 2023 with an introductory suite of 11 ETFs seven thematic and four fundamental...
Subscribe to the ETF Express newsletter

Subscribe for access to our weekly newsletter, newsletter archive, updates on the site and exclusive email content.

Marketing by