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Tag Archives: ISO20022
Regulatory fiddling burns platform roaming
An article from Stephen Mohan – Managing Director of Operational Services at Cofunds, which originally appeared in Money Marketing.
Wherever I turn I see the debilitating effects of the UK’s lack of joined up government. As an example, my wife is trying to build a restaurant and is trying to reconcile the different challenges of planning permission, building control, environmental policy, disability rules and licensing laws. None of these were established for bad reasons, but their combination leads to one major law: the one of unintended consequences – more about this later.
The re-registration question.
Following news last week that Towry and Ascentric have ‘locked horns over delays in transferring assets between the firms, which are now spanning into several months’. We thought we’d take the opportunity to reitterate what our re-reg guru Stephen Mohan has been saying for years…
…In short: We need platform to platform re-reg; this can’t be truly robust without automation; automation will mean it can be implemented at scale; for success we need the fund groups and third party administrators to buy into the development as well as adopting a single message routing system.
Platforms talk re-reg
Earlier this year we concluded that the conversations occuring in the press around platform to platform re-registration were clouding the issue rather than helping advisers to understand the current situation.
We invited all the platforms to join us, on camera, to discuss the issues we face, the obstacles that we need to overcome as and industry and to set out exactly what each of the platforms can currently offer in the way of re-registration.