Broadridge launches MiFID II ex-post reporting solution for investment managers

New service set to help investment managers meet reporting obligations for the end of April 2019.

Broadridge has launched a new MiFID II ex-post reporting solution for investment managers under its new FundAssist business, which it acquired in May this year.

Under Article 50 of the MiFID Delegated Regulation, an investment firm is obliged to provide annual ex-post information about all costs and charges related to both the financial instruments and investment services provided to their clients.

Broadridge highlighted that the information for calendar year 2018 must be provided to clients no later than the end of April 2019 and must be personalised, based on actual incurred costs and show the cumulative effect that these costs have on the return on investment. 

“MiFID II compliance adds to the scale and complexity of regulatory change affecting firms operating in European jurisdictions,” said Patricia Rosch, president of Broadridge’s international Investor communication solutions business. “Delivering proprietary end-to-end solutions, based on advanced technology and combined with our exceptional depth of regulatory expertise, helps investment firms manage this highly complex regulatory issue and be prepared to capitalise on what’s next.”

Broadridge said its solution will aggregate and process investor and product data, calculate the personalised cost information and produce the end investor statements.

The automated, straight through process will help enable investment firms to meet their regulatory obligations and deliver investor statements ahead of the regulation deadline.