Subscribe to our newsletter

Stay up to date with acarda RegTech News

  • *Please complete all fields marked with an asterisk.

acarda Platform Demo

acarda platform

See the acarda Platform in action

We can demonstrate what the acarda platform can do using real-life scenarios in your company. If you are interested in this, let us know using this email for If you are interested in this, let us know using this email form:

  • *Please complete all fields marked with an asterisk.
 

ESA publishes final SFDR RTS: The main changes – Current need for action

On 4 February 2021 the European Supervisory Authorities (ESA) published their final reporton the Regulatory Technical Standards (RTS) for SFDR.This results in a number of updates that urgently need to be taken into consideration in the compliance reporting. To keep you up to date, we have summarised the most important upcoming changes and our recommendations for action.

The main changes in this final draft RTS, compared to the previous draft RTS (published within the Joint Consultation Paper on 23 April 2020) are:

  1. PAIs (Principal Adverse Impacts) an update of the list of indicators for entity-level principal adverse impacts.
  2. Article 8 pre-contractual and periodic disclosure templates have been updated (compared to the mockups published in September 2020).
  3. Article 9 pre-contractual and periodic disclosure templates have been published (for the first time).
  4. Information on the website regarding Article 8 and 9 products has been updated.
  5. DNSH (Do Not Significantly Harm) – details on how to assess whether sustainable investments do not significantly harm.
  6. Clarification on multi-option products has been provided.

Key challenges include:

  1. Defining clear monitoring of measures for pre-contractual and periodic reports.
  2. Adjusting to the mock-ups on pre-contractual and periodic reports included in the RTS.
  3. Historical data in the periodic report needs to take into account averaging over each period to avoid “window dressing”.
  4. Extended requirements for product information on the webpage.
  5. Methodology to select indicators based on probability of occurrence and severity.
  6. For MOPs: information for all options need to be provided either as annexes or through links.
  7. Discretionary mandates and other products for which requirements were uncertain will need to comply, even if in password-protected section of the webpage to keep confidentiality.

Implementation with acarda:

  1. Based on your requirements, our experts will develop an action plan with you. Optionally, our partner Simmons & Simmons can also support you in terms of legal issues.
  2. Our SFDR software module is already available today for mapping the above challenges. We will gladly present you the data management including the acquisition of ESG data, the monitoring of PAI criteria and the generation of exemplary SFDR reports, templates and websites for all Article 6, 8 and 9 portfolios.
  3. The SFDR module is part of our acarda platform for data management and regulatory reporting. Based on a central database, you can also map PRIIPS and MiFID, KIDs, Solvency II, AFIMD, CRR and many other reports.

Johannes Waldheim, Head of Productmanagement at acarda welcomes the draft RTS improving ESG reportings:

“Active and passive funds must both provide the same information with equal information requirements. A passive fund, can simply refer to the index, but must declare this. A SDFR-compliant and early positioning of products according to articles 6, 8 and 9 with all documents and calculations is essential. With a SFDR module integrated in our reporting platform we support our clients with ESG-compliant data, method alignment, all calculations and documents as well as web services according to SFDR Level 1 required by 10 March 2021.“

Press contact
Jessica Schreiner

Phone:+49 15 25 47 62 361
Email: jessica.schreiner@acarda.de

More news…

European Commission considers to extend the exemption period of UCITS KIID following the postponement of new PRIIPs RTS

As anticipated, the European Commission published a consultation paper on 15 July 2021 requesting to extend the exemption period for the UCITS KIID until 30 June 2022.

More

CRR II: new reporting regulation from July 2021. What to consider now.

By the end of June 2021 the updated Capital Requirement Regulation (CRR II) came into force. The goal of the EU regulation is to introduce a more risk-sensitive framework for management credit risks. One of the key outcomes of CRR II will be a stricter client reporting and disclosure regime.

More

New standards for PRIIPs-KIDs as of July 01, 2022

According to information from the German Investment and Asset Management Association (BVI) dated May 21, 2021, the EU Commission plans to delay the start of PRIIPs-KIDsby six months. A package of measures, which will include not only technical adjustments to Level 2 but also a selective amendment to the Level 1 Regulation, is to be forwarded by the EU Commission to the EU Parliament and Council before the end of June 2021.

More

European Commission considers to extend the exemption period of UCITS KIID following the postponement of new PRIIPs RTS

As anticipated, the European Commission published a consultation paper on 15 July 2021 requesting to extend the exemption period for the UCITS KIID until 30 June 2022.

More

CRR II: new reporting regulation from July 2021. What to consider now.

By the end of June 2021 the updated Capital Requirement Regulation (CRR II) came into force. The goal of the EU regulation is to introduce a more risk-sensitive framework for management credit risks. One of the key outcomes of CRR II will be a stricter client reporting and disclosure regime.

More

New standards for PRIIPs-KIDs as of July 01, 2022

According to information from the German Investment and Asset Management Association (BVI) dated May 21, 2021, the EU Commission plans to delay the start of PRIIPs-KIDsby six months. A package of measures, which will include not only technical adjustments to Level 2 but also a selective amendment to the Level 1 Regulation, is to be forwarded by the EU Commission to the EU Parliament and Council before the end of June 2021.

More

ESMA updates its FAQs on AIFMD

On 28th May 2021, ESMA published an update on its FAQ on the application of the Alternative Investment Fund Managers Directive (AIFMD).
Three new questions related to Annex IV reporting were added to the document. In the Section III question number 84, 85 and 86, ESMA provided detailed explanations and examples on the reporting obligation of NET DV01, NET CS01 and NET Equity Delta of the AIF.

More

acarda adds InReg for increased European regulatory monitoring

acarda, a leading European RegTech company and part of LPA Group, has announced a coorperation with InReg, a regulatory maintenance provider that specialises in monitoring changes occurring within the regulatory updates for the asset management and life insurance sectors.

More

acarda GmbH

Eschersheimer Landstr. 14
60322 Frankfurt am Main
Germany

acarda Luxembourg

68, Avenue de la Liberté
L-1930 Luxembourg

acarda London

c/o LPA
7 Westferry Circus
Canary Wharf
London E14 4HD
United Kingdom

© 2021 acarda GmbH | Alle Rechte vorbehalten | All rights reserved
text