Asset managers are at risk of seeing significant business losses as a result of delays in their delivery of new data to distributors, as is required from them under impending MiFID II rules, which could lead distributors to remove their funds from sale or even terminating relationships.
MiFID II, which comes into force on 3 January 2018, requires asset managers to hand over large volumes of data to their distributors, which can refuse to sell investment funds and structured products without...
Response time pushed back to October
Still processing 590 applications
In relation to 151 bonds
Concerns surrounding risk management
Adds £60m of assets
Up to £2,500 a month