60 Percent of Fund Managers Have Not Implemented Solutions Ahead of Mifid II

Approximately 100 representatives of fund management firms participated in Northern Trust’s regulatory event, revealing concerns about the upcoming regulatory storm.

Robert Angel, head of product and regulatory solutions at Northern Trust

Released by Northern Trust today, the survey shows that 60 percent of the participants had not considered utilizing technologies as a response to the new requirements.

“The large managers are beginning to invest more strategically, but it can’t happen overnight,” says Robert Angel, head of product and regulatory solutions at Northern Trust.

According to the survey, fund managers are aiming to be compliant rather than strategically deploying available technologies.

“For the moment, a significant number of firms are waiting for further certainty from a regulatory perspective,” Angel says. “That’s because in a couple of years some regulations might change. Therefore, managers are still considering how best to align budgets and resources to this.”

According to Angel, managers also want to have a greater comfort level and expectation around longevity of these new technologies.

“They are relatively new so managers might need to feel that regulators support these technologies,” he says.

The majority of survey respondents—70 percent—said that this year, managers will spend even more time in trying to get up to speed and be compliant, compared to 2016.

Also, 40 percent said technology solutions would be useful for anti-money laundering, while 30 percent thought new technologies would assist with Mifid II compliance.

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