TISA acclaims major re-registration development
Commenting on the announcement that Fidelity, Ascentric and Schroders have successfully tested what is believed to be the first platform-to-platform end to end message over SWIFT using the Altus Transfer Gateway, Malcolm Small, TISA Director of Policy said:
“A few weeks ago we hailed the news that the first ISO 20022 re-registration messages had been sent over the SWIFT network as a ‘significant’ step. Today’s announcement of the successful testing of the first multi-party portfolio transfer over the SWIFT network ranks as a major step in the development of automated in-specie transfers. On behalf of the TISA Re-Registration Executive Committee I would like to congratulate all the parties involved.
“There is now considerable momentum in the development of automated re-registration solutions and while further testing is still needed I am greatly encouraged that the industry is on target to meet the 2012 RDR deadline.”
Following the creation of a Re-registration Committee in July 2009, TISA established an Executive Committee, Programme Office and dedicated work streams to deliver the implementation of the re-registration project prior to the Retail Distribution Review coming into effect at the end of 2012.
TISA represents the interests of over 120 firms involved in supplying, administering or distributing products to savers and investors. TISA’s membership includes investment houses, TPA providers, Wrap and Platform providers, life companies, IT systems providers, distributors, stockbrokers, banks and wealth management companies.
Ends……
For further information, please contact:
Malcolm Small, Director of Policy, Mobile: 07989 500771 Email: malcolm.small@tisa.uk.com
Issued on behalf of TISA by Cauldron Consulting, contact Steve Radford – Tel: 020 3178 7238, Mobile: 07889 903786. Email: steve.radford@cauldron-consulting.com
Notes for Editors
The Tax Incentivised Savings Association (TISA)
TISA is the premier industry funded body in the UK retail savings and investment industry. By engaging with member firms, government, political parties, regulators and consumer groups TISA’s ultimate goal is always to further consumers’ best interests. It seeks to improve the range, features and quality of savings and investment schemes available whilst encouraging more people to save for their financial security and peace of mind.
Uniquely, TISA is able to articulate the opinions of the whole savings and investments marketplace through its membership comprising over 120 member firms involved in the supply or distribution of products. TISA’s remit extends across the broad spectrum of government sponsored savings and investment vehicles.