TISA issues industry Service Level Agreement for re-registration
The Platform Re-Registration project being run by TISA has issued an industry-wide Service Level Agreement for use by market participants re-registering assets between platforms.
Based on work already undertaken by the UK Market Practice Group, and refined by the SLA Workstream within the re-registration project, the document is now available to view on the dedicated section of the TISA website: www.tisa.uk.com
Its arrival clears the way for market participants to start piloting their re-registration procedures, giving them, as it does, a reference framework to operate from.
Malcolm Small, Director of Policy at TISA, commented:
“The issue of the SLA follows much hard work by the UKMPG and the TISA SLA Workstream. Our thanks are due to members of both for their commitment in producing this document, which sets challenging, but achievable, timescales for re-registration to occur, based on real, hard, technical experience. Market participants are now encouraged to start piloting their re-registration procedures based on the SLA.
“Our next prime area of focus is on production of agreed legal indemnities so that market participants can re-register assets safely, knowing that they are operating with counter-parties of good standing. We will also be seeking to act as an information exchange, where lessons from the pilot exercises can be posted. This will save others from repeating mistakes, and will save the industry time.”
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
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.