DATA Working Group

The Findel DATA Group is Chaired by Rory Herbert at Allianz Global Investors with member firms assigning representatives to participate where there is interest, the objectives are aligned to those of the Plenary Group, the key aims of which are to: –

  • Identify common opportunities to enhance operational efficiency in cross border distribution.
  • Recommend and promote through a single voice, common solutions that would be of benefit to fund market participants and ultimately end investors.
  • The Group cooperates with other existing working groups & industry bodies and participates in relevant forums across the industry to further its goals.

Our aims…

An informal sub group comprises of Findel member firms looking at DATA & Regulatory Reporting obligations.

DATA Blog…

 

May 2024 Update

  • European ESG Template (EET)
    • Whilst still challenging, recurring production cadences have been implemented and Periodic Disclosure reporting links are now typically being populated within EETs
    • Translations, and the embedding of documents within the EET is still problematic with no consistent approach being taken by the market
    • EET v1.1.2, is now the standard format and most have been preparing for this new version to be disseminated
  • SFDR Documentation
    • There have been difficulties marrying up data from SFDR docs vs the EET due to the production timescales
      • This can led to data differences between documents and the EET which can cause issues for recipients
    • Production of these documents still involves manual processes / different owners of content which can make production cycles long and inefficient
  • European PRIIPs Template (EPT) / PRIIPs KID
    • French-domiciled Insurance wording has been requested to be added to PRIIPs KIDs
    • AMF regulation around splitting up of cost data is also an additional challenge and this impacts the ‘one template’ philosophy
  • European MiFID Template (EMT)
    • EMT v4.2 is approaching and work is ongoing to ensure the new version will be ready when required
    • Dissemination issues have been seen in relation to UK value assessment data values not being populated correctly which members are working to eradicate.

 

June ’23 Update

Key focus topics for the group are as follows: –

1. European MiFid Template (EMT)

  • Key Challenges – Delivery of data to WMDaten
  • AFB are not ready yet to process EMT v4.1, so managers need to continue to produce EMT v4.0 in tandem for at least Q2 23

2. European PRIIP Template (EPT) / PRIIPs KID

  • PRIIP template challenges seem to have died down

3. European ESG Template (EET)

  • Still problematic, challenges around the permalinks and language requirement providing issues. The validation tool looking at the data points is a positive and proving beneficial.

 

December 2022
•   Main topics discussed were the introduction of PRIIP KID’s, SFDR, the new EET file, introduction of the EPT v2 which created meaningful challenges due to several regulatory changes happening with the same effective date – All of which required provision of information to clients, distribution partners and platforms.
•   Key challenges included the delivery of PRIIP KID documents to clients requested in advance of the deadlines and the linked topic of the new EPT 2.0 and the new requirements that had been put in place for the delivery of the data to WMDaten.
•   The introduction of the SFDR was also discussed where the language requirements, content, Taxonomy, production needs and providing of these documents on company websites were seen as the main challenges. In addition, questions were raised in relation to the proposed update for additional Nuclear and gas fields which was expected in early. This could be challenging to provide for some.
•   Lastly, the requirement to link the SFDR documents to the new European ESG template (EET) was noted to be very complex, especially when considering language options and the need for permalinks. The completion of the various data points (circa 600) also led to questions and more information was required from FinDatEx on how they should be populated (which came in later versions of the template).

 

 

Future