SIX Financial Information has added a data service that supports compliance with the Alternative Investment Fund Management Directive (AIFMD) to its regulatory solutions and is preparing further services for forthcoming regulations.
The company’s AIFMD service includes the data needed by alternative investment fund managers to register themselves and their managed funds as required by the directive, as well as the financial instruments data and classifications needed to report to local regulators on a quarterly, semi-annual or annual basis depending on the value of assets under management. Easing the problem of AIFMD being implemented and specified in different ways by regulators in different countries, SIX captures data in all formats and maps it to its own format before distributing it as part of the data service.
Heiko Stuber, senior product manager, reference data at SIX, explains that the service also includes data on registered alternative investment funds and their managers, which is obtained from the European Securities and Markets Authority and local supervisory authorities. This allows financial advisors to see which alternative investment fund managers are permitted to market their funds within the European Union. The service is available immediately and is delivered on a global basis via SIX’s VDF reference data feed.
Phillip Lynch, head of markets, products and strategy at SIX, comments: “The compliance effort for AIFMD is not to be underestimated and, given our expertise in regulatory reference data, we aim to support the fund sector in growing its business and marketing its funds in a compliant way.”
Looking forward, Jacob Gertel, senior project manager, legal & compliance data at SIX, says the company is working on a data service for MiFID II and has a solution in place for Solvency II. It also has Basel III on its radar.