With the new legislation introduced by UCITS IV which includes […]
With the new legislation introduced by UCITS IV which includes new fund registration and notification procedures, Europe is further opening its doors to facilitate cross- border fund distribution. To support the new legislation, CETREL Securities—globally recognised reference in secured transaction communication—and KNEIP—expert in fund data and document management and dissemination—have joined forces to offer a new platform for the management of fund registration and notification.
This solution, effective in June 2011, will bring to asset managers and promoters a streamlined regulator-to-regulator procedure as well as greater visibility into the notification process. KNEIP and CETREL Securities—officially recognised transmission channel by the Luxembourg Bank Authority— are working closely with regulators to test the processes and procedures in the home-host regulator environment.
Bob Kneip, CEO of KNEIP (in Picture) comments: “We are delighted to be working with CETREL Securities to offer the funds community an alternative communications and cost-conscious platform for funds notification in Luxembourg. Capitalising upon our international asset management client base, it is our intention to open this service to the European fund community at large.”
Renaud Oury, Executive Vice-President at CETREL Securities, added: “This is a culmination of our reporting project that was started back in 2007 when we established the SOFiE SORT communication gateway through to the Luxembourg Bank Authority. Working with KNEIP has presented us with the opportunity to build a solution around the needs of the asset managers, promoters, as well as administrators, auditors, and legal advisors.”