Following a public consultation on changes to the European MiFID Template (please see EventID20166), the Financial Data Exchange (FinDatEx) platform has made available the final update to the European MiFID Template (EMT V4.1).
The new EMT Version V4.1 includes necessary changes in light of the upcoming entry into force of the „UK consumer duty regime“, that starts to apply from 31 July 2023 for financial products and services. The „UK consumer duty regime“ will introduce a higher level of consumer protection in retail financial services in the UK (please see EventID #16865 and EventID #17433 for details).
The changes comprise EMT V4.1 including 10 new optional fields (which become mandatory and conditional apply only if 09030 is set to „Y“) required for funds being distributed in the UK. These fields include:
– 09010 & 09020: Ex-ante and ex-post transaction costs (using the UK calculation methodology)
– 09030-09100: fields providing information on UK value for money
FinDatEx publishes EMT V4.1
ID
22724
Other Features
banks
capital management companies
compliance
consumer protection
disclosure
fees
fund management
investment firms
investor protection
issuer
standard
Date Published: 2023-04-11
Date Taking Effect: 2023-07-31
Regulatory Framework: Markets in Financial Instruments Directive II (MiFID II), FCA Handbook
Regulatory Type: form
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