FinDatEx consults on EPT V2 – what are the key changes?
With the publication of the updated European PRIIPs Template (EPT) for consultation, FinDatEx are now in the final stages of revising their European PRIIPs template (EPT) used extensively throughout the industry.
EPT 2.0 is now under public consultation until 22 November 2021.
What is EPT?
FinDatEx (Financial Data Exchange Templates) is a joint structure established by representatives of the European Financial services sector industry with the view to coordinate, organise and carry out standardisation work to facilitate the exchange of data between stakeholders in application of European Financial markets legislation, such as MiFID II, PRIIPs and Solvency 2.
The EPT template is designed by FinDatEx to assist with the obligations arising from the PRIIPs regulation. The document is a functional description of the minimum set of data to be exchanged from asset managers and banks to insurers to help them fulfil their PRIIPs regulatory obligations.
The template is produced by the Fund Company and is distributed to any party wrapping the funds or creating an unit-linked product. The receiving party can then use the information in the EPT template to create a PRIIPs KID for the product sold.
What are the key changes in EPT 2.0?
EPT 2.0 contains a number of changes which reflects the provisions as required by the PRIIPs Regulation (EU) No 1286/2014 and revised PRIIPs Delegated Regulation (regulatory technical standards, RTS).
The main changes to the EPT include additional fields in the following sections:
What are the next steps?
With the consultation of EPT 2.0 closing on 22nd November 2021, the technical working group will review the input received and update the template as appropriate. It is unclear at this stage what will be the implementation date of EPT 2.0, but it is expected that at minimum firms will required to deliver the data by end 2022 to coincide with the implementation date for the revised RTS.
How can Funds-Axis help?
The Funds-Axis Fund Document Production Module can help you implement EPT 2.0 and automate the PRIIPs KIDs process.
The Funds-Axis Fund Document Production Module provides:
- A full end to end document production solution for PRIIPs KID and EPTs.
- Comprehensive Statistics Module – automated calculation of all required risk, performance and cost calculations, including transaction costs.
- Creation of country and language versions.
- Full dissemination capabilities.
- Managed or SAAS solution available.
- Full API – Our API which provides full access to all your data, calculations, statistics and charts.
Contact us today to learn how we can automate fund document production through direct connectivity to your source data, file transfer and batch data uploads.
Arrange A Demo
Error: Contact form not found.