SIX Introduces Platform for Regulatory Documentation and Reporting

SIX Financial recently rolled out a platform which enables the electronic exchange of regulatory data and documentation between wealth managers, assets managers, banks and other market participants.  MiFID II requires financial institutions located anywhere in the world selling retail investment products to investors domiciled in the European Union to comply with multiple investor protection regulations, including PRIIPs, MiFID II and UCITS. Firms will have a new duty to exchange data and information about the content and sales of retail investment products, as well as create and issue regulatory documents such as PRIIPs-KIDs. Since the same data points are often required in different levels of granularity for different regulations, the platform also acts as a central source for investor protection data. Product data, information and documents can be structured and exchanged real-time in a standardized manner, and in the right format for each regulation. The platform also allows information and documents to be requested on-demand at the point of sale, rather than potentially multiple times each day for thousands of products, reducing costly unnecessary processes.