FundsLibrary maintains over 95% MiFID II data coverage for its platform clients through Q1 2018
FundsLibrary supports a number of the most significant investment platforms in the UK including: Ascentric, Cofunds, Hargreaves Lansdown, James hay, James Brearley, Parmenion, Sanlam and Wealthtime. Since the introduction of the MiFID II regulations on 3rd January 2018, FundsLibrary has maintained between 95 and 100% coverage of the required Ongoing Charges Figure (OCF) data across over 30,000 funds on platforms through the first quarter of 2018.
In the ten weeks to 16th March 2018 over 4 million requests for MiFID OCF data had been made to data providers by advisers and investors from sources supplied by FundsLibrary.
Arun Sarwal, CEO at FundsLibrary, commented:
“Given that on the 3rd December 2017 we had some 10% of the data required by our intermediary clients – and then achieved over 95% by 3rd January 2018 – we are extremely proud of the role we played, and continue to play, in maintaining high standards with regard to meeting the obligations of regulatory reporting for MiFID II and Solvency II.”
Find out more about MiFID II Manager.