New York, NY - Advise Technologies, a leading provider of regulatory intelligence software and services, announced the release of an updated Markets in Financial Instruments Directive (MiFID) solution that will help affected investment managers meet their reporting obligations under MiFID II.
The updated solution, Advise MiFID TR, focuses on the regulation’s transaction reporting requirements, and includes a rules engine that identifies reportable transactions, automated data import and enrichment, data validations, approval workflows, and management reporting. The solution also includes functionality related to MiFID II’s transparency and position reporting requirements.
Advise also plans to offer MiFID II Approved Reporting Mechanism (ARM) services and has applied with the United Kingdom’s Financial Conduct Authority (FCA) for ARM status. The FCA has not yet authorized any MiFID II ARMs, but is expected to begin approving applications in July 2017.
MiFID II introduces new reporting obligations and expands existing requirements for investment firms operating in the EU. In combination with MiFIR, MiFID II is much broader in scope and content than the MiFID I reporting regime that is currently in place.
“MiFID II’s daily reporting requirements are very challenging for firms impacted by this regulation,” said Adam Capon, Advise’s Managing Director and Head of Client Services. “Our automated solution is ready to streamline the reporting process.”
In addition to the MiFID II reporting solution, Advise will also offer support for other regulations that include transaction reporting requirements, including EMIR, REMIT, SFTR, FinfraG, MAS, SDR, and more.
A copy of this press release can be accessed here: http://bit.ly/Advise_MIIPR
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