TISA comments on first re-registration messages
Commenting on the announcement from Altus and SWIFT that the first ISO20022-compliant re-registration messages have been sent over the SWIFT network, David Dalton-Brown, Chairman of the TISA Re-registration Executive Committee says:
“A significant milestone in the re-registration project has been reached with this announcement. It marks the first step in the testing programme that will deliver electronic re-registration of funds before the regulatory deadline in the FSA’s Retail Distribution Review.
“I am particularly pleased that the way is now open to test interoperability which will ensure that messages can be transmitted, received and processed by platforms, fund managers, wealth managers and registrars, irrespective of the system provider they use. TISA’s Re-registration Executive Committee is encouraging all system providers and all participants in the re-registration tests to schedule interoperability testing as soon as possible.”
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.
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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.