The committee, established last October to provide a forum for all parties interested in re-registration, is now inviting more firms to help push the initiative through in a manner that is timely, cost effective and easy for the consumer.
The committee’s vision is to develop a re-registration solution, enabling investors to access a platform, register their underlying funds onto a given platform, transfer between different platforms and then transfer off that platform.
Tisa director of portfolio and retirement planning Malcolm Small says: “I have had numerous conversations across the industry all of which indicate a willingness to engage in the delivery of re-registration to the agreed ISO 20022 standards.
“However we still need to identify and remove any barriers to implementation. That’s why this Committee is so important and as there will be effects across the wider industry at both fund and product wrapper level too, I am keen to have as wide a range of members as possible.
“At the same time I am also encouraging all wrap and platform providers to talk now with their suppliers about implementation.”
To date, Tisa has held numerous meetings addressing the current issues relating to re-registration.