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New PRIIPs RTS confirmed by EIOPA. What to consider now.

After the revised RTS (Regulatory Technical Standards) for PRIIPs have already been adopted by ESMA and EBA, they have now also been confirmed by EIOPA. This means that once confirmed by the EU Parliament, the new PRIIPs KIDs with revised performance and transaction cost calculation methodologies will be coming on 1 January 2022.

acarda fully maps the new calculation methods with the PRIIPs and MIFID SaaS module and is already producing the KIDs for insurance companies today. Together with the SFDR documents, which will also be required by 1.1.2022, we offer all the necessary reports, data templates and websites for a successful distribution. We are happy to provide detailed information.

Current status:

On 3 February 2021, the EIOPA Supervisory Board adopted the new PRIIPs RTS and submitted them to the EU Commission for adoption. Although industry associations such as EFAMA, BVI, CFA Institute and Better Finance will lobby for a postponement or rejection, acarda expects the European Commission and the EU Parliament to approve them in the coming months.

The main changes:

  • PRIIPS KIDs for UCITs From 1 January, the preparation of PRIIPs KIDs for UCITs will be mandatory, as the exemption will then end. The disclosure rules of the new RTS are designed to make PRIIPs KIDs for UCITs fully applicable; with the aim of replacing UCITs KIIDs in the future.
  • Calculation of the performance scenarios The calculation of the performance scenarios is done by direct estimation based on the prices of the PRIIPs. When calculating past performance, the survey period extends up to 10 years into the past (ex post) and is shown as a bar chart. Unrealised or potential losses must be taken into account for future performance scenarios (ex ante).
  • Calculation of transaction costs Transaction costs can continually to be calculated using the slippage method (arrival price or Full PRIIPS method). If market prices are not available a “justified independent price” can be taken. Optionally, the so-called basis point method (also called New PRIIPS or half spread method) is possible until 31 December 2024 for UCITs and AIFs launched before 31 December 2021. For each asset class, the half “spreads” of suitable benchmarks can be calculated and used for all transactions. However, a 3-year history of the “arrival prices” must be built up, which again puts this option into perspective.

Efficient compliance with acarda

acarda offers you a service package that fully maps all innovations today. Our software-as-a-service solution for PRIIPs and MiFID already includes ETPs, EMTs and KIDs in various languages since 2018. Using the browser-based acarda dashboard, you can monitor and control the data flow, all calculations, production as well as distribution to different platforms, clients, web sites and regulators from any location. acarda recommends combining KIDs production with our SFDR module to manage all calculations and documents with maximum efficiency using a single, integrated regulatory platform.

More news…

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

On 4 February 2021, the European Supervisory Authorities (ESA) published their final report on 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.

More

SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

acarda upgrades its reporting platform with a SFDR module with scoring, classification and the publication functions according to SFDR Level 1 and 2.

More

Real estate fund reporting: acarda launches regulatory reporting solution based on gif_IDA standard

Regulatory real estate fund reporting is associated with certain challenges. Until now there has been no complete binding data model able to be used as a basis for automating reporting processes.

More

New PRIIPs RTS confirmed by EIOPA. What to consider now.

After the revised RTS (Regulatory Technical Standards) for PRIIPs have already been adopted by ESMA and EBA, they have now also been confirmed by EIOPA.

More

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

On 4 February 2021, the European Supervisory Authorities (ESA) published their final report on 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.

More

SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

SFDR: new MiFID II EMT version 3.1 required by 10/03/2021.

acarda upgrades its reporting platform with a SFDR module with scoring, classification and the publication functions according to SFDR Level 1 and 2.

More

Real estate fund reporting: acarda launches regulatory reporting solution based on gif_IDA standard

Regulatory real estate fund reporting is associated with certain challenges. Until now there has been no complete binding data model able to be used as a basis for automating reporting processes.

More

acarda & LPA support CyberMentor – Germany’s largest online STEM platform for girls.

Together with LPA, acarda has made a donation to CyberMentor, an online mentoring platform specifically for girls interested in STEM subjects. The leading providers of innovative SaaS solutions and financial consultancy services are now official sponsors of the online mentoring program that aims to inspire girls to study science, technology, engineering or mathematics.

More

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