Industry collaboration has set a standard for inter-platform asset transfers. But, as platforms deliver product innovation, will re-registration become harder to manage? Henry Brennan finds out…
It has been six months since the Tax Incentivised Savings Association's (TISA) TeX service level agreement came into effect, designed to help accelerate the progress towards faster re-registration. A target of six days for fund transfers underpinned the agreement and TISA reported that financial groups representing 88% of industry funds, together with more than 91% of platform assets, had either joined or committed to sign up to TeX. TISA technical director Jeffrey Mushens said the progress was encouraging and even stands to surpass expectations. He said: "The anecdotal evidence we...
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