Silverfinch has highlighted the importance of ensuring all data is securely stored and managed in the lead up to the regulatory step change of MiFID II. |
From 3rd January 2018, MiFID II product governance will require manufacturers of products to collect information from their network, confirming if products have been sold to a suitable investor. The regulation also requires asset managers to hold and communicate increased amounts of data on their funds and clients. Much of this data will be sensitive, personal information which will need to be stored correctly to avoid any third party access. On top of this, the FCA’s Asset Management Market Study, has today revealed a package of measures to be introduced into the asset management sector, including rules surrounding the costs charged to the end investor to be disclosed as a single fee for MiFID II. This will require additional compilation of data from asset managers. John Dowdall, managing director of Silverfinch said: “MiFID II already requires a monumental amount of data to be held and communicated across different parties regarding both funds and individual investors and, if mishandled, could pose a wealth of risks along the regulatory chain. “Today’s report from the FCA, which concentrates on the need for an ‘all-in’ fee for end investors, will require even more data assessment for asset managers when selling a product.
“With such large volumes of information being required, both sensitive and public, it is essential that asset managers and distributors fully prepare to meet these new rules and can assure investors that all information is protected. We are thrilled by the increasing interest from the industry as it readies itself for the new regulation, but want to ensure that the focus isn’t simply on complying with the new rules, but complying in a safe and secure environment.” |
|
|
|
Pensions Data Science Actuary | ||
Offices UK wide, hybrid working - Negotiable |
Head of Pricing | ||
London - Negotiable |
Global Specialty Pricing Actuary | ||
London - £95,000 Per Annum |
Client-facing DC investment manager | ||
London / hybrid 3 dpw office-based - Negotiable |
Financial Risk Leader - Bermuda | ||
Bermuda - Negotiable |
Aylesbury Actuaries | ||
Aylesbury / hybrid 3dpw office-based - Negotiable |
Make an impact in protection pricing ... | ||
London / hybrid 2 days p/w office-based - Negotiable |
BPA Implementation Manager | ||
North / hybrid 50/50 - Negotiable |
Head of Reserving | ||
London - £160,000 Per Annum |
In-force Longevity Actuarial Analyst | ||
London / hybrid 2 dpw office-based - Negotiable |
Make a difference within reinsurance ... | ||
London / hybrid 2 dpw office-based - Negotiable |
Be at the cutting-edge of life & heal... | ||
London / hybrid 2 dpw office-based - Negotiable |
Longevity Pricing Analyst | ||
London / hybrid 2 dpw office-based - Negotiable |
Develop your career in life reinsuran... | ||
London / hybrid 2 dpw office-based - Negotiable |
Protection Pricing Actuary - Life Rei... | ||
London / hybrid 2 dpw office-based - Negotiable |
Life (Re)insurance Pricing Manager (P... | ||
London / hybrid 2 dpw office-based - Negotiable |
Take the lead: life & health reinsura... | ||
London / hybrid 2 dpw office-based - Negotiable |
Pricing Tools and Systems Developer | ||
London / hybrid 2 dpw office-based - Negotiable |
Longevity Pricing Actuary | ||
London / hybrid 2 dpw office-based - Negotiable |
Shape the future of longevity | ||
London / hybrid 2 dpw office-based - Negotiable |
Be the first to contribute to our definitive actuarial reference forum. Built by actuaries for actuaries.