The leading knowledge platform for the financial technology industry
The leading knowledge platform for the financial technology industry

A-Team Insight Blogs

SEI Introduces Functionality to Support UCITS IV Requirements

SEI announced today the launch of new tools designed to assist investment managers in meeting mandatory requirements under the Undertakings for Collective Investment in Transferable Securities IV (UCITS) Directive. SEI has developed an online solution to simplify the production and servicing of the required Key Investor Information Document (KIID), while also enhancing its portfolio compliance monitoring system to account for UCITS-specific investment restrictions.

Under the UCITS IV Directive, asset managers will be obligated to replace their current simplified prospectus with a KIID for their UCITS products. The introduction of the KIID is aimed at promoting transparency and uniform standards across EU member states, with documentation provided in each jurisdiction’s home language and limited to two pages.

SEI’s web-based application provides a standard template layout designed to meet the regulatory guidelines, while still allowing for flexibility to create a unique look and feel for clients. SEI also offers assistance in writing and translating the KIID into the local language as prescribed by the regulations.

SEI has also made additional enhancements to its portfolio compliance monitoring system, which has now been specifically designed to test UCITS investment restrictions on an automated basis. These UCITS-specific tests are now part of a library of nearly 100 compliance tests and benchmark comparison functionalities. The flexible system allows the client to determine certain thresholds of risk and exposure based on daily positions and trades, and results can be reported on a daily basis in both a summary and detail report.

Philip Masterson, Senior Vice President and Head of Business Development, Europe, for SEI’s Investment Manager Services division, commented: “SEI is committed to offering state-of-the-art technology to help investment managers understand and adapt to evolving regulatory requirements. The increased depth of regulation under UCITS IV and amount of preparation required to produce KIID documentation within a limited timeframe can be an additional burden to fund managers, so we sought to streamline and automate the process as much as possible. By enabling managers to enhance and consolidate their compliance oversight and controls, they are in a better position to satisfy not only regulatory requirements, but to also provide additional comfort to current and prospective investors.”

Related content

WEBINAR

Upcoming Webinar: Data management for ESG requirements

Date: 13 May 2021 Time: 10:00am ET / 3:00pm London / 4:00pm CET Duration: 50 minutes Environmental, Social and Governance (ESG) investing is moving into the mainstream, requiring asset managers to develop ESG strategies that deliver for both the firm and its investors. While these strategies can outperform those that do not include ESG factors,...

BLOG

UK Sanctions Regime Increases Complexity and Cost of Compliance

The post-Brexit UK sanctions regime has added complexity to compliance, changes in financial institutions’ appetite for risk, and increased costs for multinational firms that must comply with both EU and UK sanctions regulation. These issues and more will be addressed at next week’s A-Team Group webinar on The post-Brexit UK sanctions regime – how to...

EVENT

Data Management Summit London

The Data Management Summit Virtual explores how financial institutions are shifting from defensive to offensive data management strategies, to improve operational efficiency and revenue enhancing opportunities. We’ll be putting the business lens on data and deep diving into the data management capabilities needed to deliver on business outcomes.

GUIDE

RegTech Suppliers Guide 2020/2021

Welcome to the second edition of A-Team Group’s RegTech Suppliers Guide, an essential aid for financial institutions sourcing innovative solutions to improve their regulatory response, and a showcase for encumbent and new RegTech vendors with offerings designed to match market demand. Available free of charge and based on an industry-wide survey, the guide provides a...