Preferences
Close Cookie Preference Manager
Cookie Settings
By clicking “Accept All Cookies”, you agree to the storing of cookies on your device to enhance site navigation, analyze site usage and assist in our marketing efforts.
View privacy policy.
Strictly Necessary (Always Active)
Cookies required to enable basic website functionality.
Thank you! Your submission has been received!
Oops! Something went wrong while submitting the form.

Insights from Standardization Sessions with FinDatEx EET

If you’re curious what we’ve been up to during the FinDatEx meetings, wonder no more! Today, we are sharing some of our early insights from the FinDatEx meetings, especially from the perspective of being an active, participating member in the EET standardization working group.

Lisa Waldherr
October 4, 2021

The production of EET files for Structured Products helps product distribution

If you’re curious what we’ve been up to during the FinDatEx meetings, wonder no more!  Today, we are sharing some of our early insights from the FinDatEx meetings, especially from the perspective of being an active, participating member in the EET standardization working group.  

To jump right in, one interesting outcome from our meetings was learning that, in addition to asset managers and insurance providers, SFDR may also impact structured products and derivative manufactures.

While derivative investment products do not fall under the direct scope of the SFDR regulation, and no product specific disclosures are required for those, they still might need to provide an EET reporting in the cases when those products are part of the portfolio of a fund or entity, which is under the SFDR regulation, e.g., as part of hedging or efficient portfolio management (speculative) position.  

In such cases, as part of the periodic disclosure on fund level or the PASI Statement on entity level (e.g., internal investments (“Depot A”) of a bank), the affected asset managers or financial institutions would need to consider the sustainability factors for each of their portfolio positions. In that respect, the structured and derivative investment product manufactures might also need to provide this information in an EET format, as part of their sales services to asset managers and institutional clients, to facilitate the required disclosures.

For our own ESG service, we are implementing the EET standard reporting and provide it in two ways: as part of existing services for structured products and OTC manufacturers, or as part of our full ESG service for asset managers, insurance and banks.  

At cleversoft, we strive to provide the best RegTech services, for the best value, so the financial services companies that depend on us remain compliant.  Talk to sales to learn more about Regulatory Watch, our cleversoft Compliance Commitment, or our standard ESG services.

About The FinDatEx Working Group

The FinDatEx Working Group, which stands behind the development of the European industry standard reporting formats for MiFID II (EMT) and PRIIP (EPT) is in the process of developing, yet another, standardized reporting format for ESG.  This format will come in the context of the European Sustainable Finance Disclosure Regulation (SFDR). The European ESG EET template will also cover linked regulation, as the Taxonomy Regulation and the Integration of Sustainable criteria into the IDD and MiFID II update is planned for August, 2022.

— Lisa Waldherr
Head of Business Development AM & Insurance at cleversoft  
FinDatEx EET Working Group Member