The Tax Incentivised Savings Association has issued an update on its re-registration project and is expected to publish a draft service level agreement this week.
Tisa’s project aims to streamline and fully automate the transferral of assets from one platform provider to another.
The SLAs will be posted on the Tisa website for the industry to provide feedback. After the SLAs have been legally agreed, Tisa will pilot the standards to identify any issues.
Tisa executive steering committee chair David Dalton-Brown says: “We are now seeing the progress we expected and thanks are due to the market practice group for its hard work in getting the SLAs to this stage.
“The next crucial piece of work will be the legal agreements and the running of the pilots. The legal agreements will provide an industry standard contractual framework between transferring parties, including standard indemnity clauses, designed to enable a consistent approach to the implementation of the re-registration standards and SLAs.”
Tisa is also looking at setting up a forum for suppliers so they can keep updated with the re-registration project’s developments and adapt in line with the proposed standards.