Survey Results: How prepared are Asset Managers for the next MiFID II Evolution?

One year on, MiFID II continues to evolve. Ex-Post reporting to investors is the next hurdle for the industry to overcome, and the emergence of European MiFID Template (“EMT”) version 2 points towards the growing maturity of the data requirements surrounding Target Markets.

Since January 2018 we have reviewed and analysed almost 30,000 EMTs. Through working closely with our MiFID II clients, we are able to recognise that some uncertainty remains around the subject, and we felt it the perfect time to reach out to our both our Asset Management clients and their Distribution partners to get an update on two key factors; Ex-Post figure updates and the emergence of EMT v2.

Starting with Ex-Post, we know there is high demand from Platforms for up to date figures as they prepare to produce their client reports.  Questioning Asset Managers on their awareness of expectations that the fields be completed, positively 76% said they were aware (it may be a concern to some that 24% weren’t aware).  Overall, the Asset Management community appears to be well prepared.

 

Looking now at EMT v2, it was interesting to learn that nearly half (48%) of Asset Managers questioned continue to provide a monthly update of their EMT.  When asked about the emergence of EMT v2, nearly 25% of Asset Managers had never heard of it. For those that were aware, there was a dominant school of thought, with 60% ‘waiting to see if they need to adopt’. This was supported by the majority of respondents claiming that their change timescale would depend on market requirement.

We conclude from these results that to date, adoption appears to be quite slow but once momentum grows, the market will quickly adjust.

With extensive experience in regulatory distribution we’ve created an industry standard service for MiFID II, ensuring your MiFID II data can be quickly and easily distributed to multiple end points as and when you need to.  We are proud to support our clients with both their data and regulatory requirements surrounding their funds lifecycle and we will continue to monitor the regulation as it develops, ensuring we provide help when and where it’s needed.

For help with any of your regulatory requirements please contact our Regulatory Services team.

MiFID II EMT Changes Survey of 80 Asset Managers, December 2018.

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All figures correct as at 30.09.2019.