MIFID II and Solvency II top asset manager concerns

More evidence that asset managers consider the revised Markets in Financial Instruments Directive (MiFID II) as a major challenge has emerged. Though of little surprise to anyone given the ample scope of MiFID II and particularly for its impact on distribution, the Accudelta poll also revealed a high ranking for Solvency II regulations as an important challenge this year. Accudelta, a data management firm, conducted the poll at the FundForum International event in Berlin though released the results today. Data collection, enrichment and delivery were the most pressing concerns in these regulations, says the firm. With a raft of existing and upcoming regulations to address, many asset managers at last month’s event were looking for ways to minimise the reporting burden, with some seeking to reuse reporting and regulatory data. Oonagh O’Mahoney, senior vice president of Accudelta, said there has been considerable discussion about the potential overlaps between areas of the packaged retail insurance-based investment products (Priips) regulation and aspects of MiFID II – a fact Funds Europe highlighted earlier in the year. The firm also asked asset managers which key areas, aside from performance, they felt would help retain customers and win new mandates in the year ahead. The two most essential were reputation (59% ranked this as the most or second most important factor) and complying with new regulations (36%). Fintech firm Calastone, in partnership with Funds Europe, recently published a survey about MiFID II challenges. ©2016 funds europe

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