acarda covers DCPT and ICT for UK Asset Managers
On May 21, 2019, a new reporting template was launched under the Cost Transparency Initiative (CTI) for pension schemes in the UK with an aim to standardize costs and charges disclosure that is digestible to various stakeholders. Anticipating such a course of action, acarda has been actively working on its multi-functional digital platform arep to prepare for full functional reporting system that complies with the guideline of CTI.
arep is a comprehensive regulatory reporting tool that offers both upstream and downstream reporting solutions to acarda’s clients and offers one window solution for regulatory reporting. Its intelligent design has the necessary functionality to produce various reports to comply with different regulatory frameworks.
Moreover, with the successful launches and smooth functioning of its PRIIPs, MiFID II, DCPT, RG97 and various other regulatory reporting solutions, acarda is well versed on the management of the CTI template and is set to perform full scale deployment of its ICT reporting system. Over the years, the company has built a reputation in the industry for timely and widescale production. The company itself has proved to be a leading player time and time again through conducting various proof of concepts, report production and setting standards by consulting some of the leading asset management firms in its portfolio.
A prevailing dilemma encountered by the industry is the maximization of the intended value in comparison to the cost it incurs for the compliance. Over time the asset management industry along with regulators and working groups have involved best practices using optimal efforts and resources. One such effort has been materialized by the Cost Transparency Initiative (CTI) which expects asset managers to fully comply with the guidelines for their December 2019 report period.
Given that the PLSA, IA and LGPS seek a widespread adoption of the template, it is safe to claim that the reporting mechanism under the CTI guidelines will become a benchmark for asset managers for UK pension schemes. acarda understands the needs of the industry and presents itself as the optimal solution provider for production under CTI guidelines.