PRIIP data solution from Silverfinch

Silverfinch, the look-through and data distribution utility for client regulatory reporting, has launched a new capability to its data model in response to the upcoming Key Information Document (KID) regulation for Packaged Retail Investment and Insurance Products (PRIIPs) which come into effect next January 1.

Silverfinch has expanded its data model to include the KID data for PRIIPs, enabling asset managers to achieve the most efficient distribution of the data to their insurance-based investment product manufacturers across Europe. This will allow their insurer clients to continue to trade under the new rules.

Said John Dowdall, the company’s managing director: “The upcoming PRIIPs regulation will have a huge impact across insurers and asset managers as data has to be shared in order to comply with the new rules. Insurance firms that wrap asset managers’ funds for sale to retail clients will not be able to do so without a PRIIP KID document and the retail investor needs to confirm they have been given document before investing.

“Our PRIIPs capability works in tandem with our existing data model, allowing end users to input and access the data required to achieve compliance. We are looking forward to working with both new and our existing clients across Europe as they navigate this new regulation.”