Alan Lawman, Management Consultant, TCS BaNCS

September 3rd 2020 came and went and proved that you can go live with new regulations and directives in the middle of a global pandemic, after two years of planning with most parties away from the office.

So how was it? Well, there are a number of open points which should get ironed out during 2021, market practices will normalise and stabilise and hopefully there will be lessons learnt.

However, the real test is yet to come. With the European meeting season soon upon us, we should expect to see increased volumes in general meeting notices and activities, though preceding the meetings, will be the shareholder identification/disclosure requests and we expect to see an increase in volumes here too. 

So are you ready for this impending increase?

Most organizations are now looking towards solutions that would help in automating SRD II processing and ensure compliance with the Directive.

For Shareholder Identification requests, a solution that will take the new ISO 20022 standard requests, create responses to these based on the static held, and forward them on if required.

For General Meeting Notifications and Proxy Voting, a solution that is both ISO 15022 and ISO 20022 compliant and manages the meeting lifecycle from notification, voting, affirmation and confirmation.

Not ready to use ISO 20022 messages for Shareholder Identification? You would need a solution that would help prepare for file uploads and manual request creation, and send responses using the same file uploads or by creating email/PDF extracts. This also applies to the requests that you may need to pass on.

As the SRD II Directive celebrates its five month anniversary, its real test is only weeks away.  

Are you ready?

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Disclaimer: Views or opinions represented in this blog is based on author’s own research and does not represent TCS BaNCS