Silverfinch, a look-through and data distribution hub for client-related regulatory reporting, has added new templates to its data model in response to the upcoming Key Information Document (KID) regulation for Packaged Retail Investment and Insurance Products (PRIIPs).

Both the European PRIIPs Template (EPT) and the Comfort European PRIIPs Templates (CEPT) have been added to Silverfinch’s software. It has designed each template to help with the distribution and aggregation of the data required by PRIIPs on behalf of asset managers and insurers, who can used them in conjunction with Silverfinch’s existing Solvency II template if they so wish.

The first version of both the CEPT and EPT templates will remain 'on hold' until regulators finalise their standards. Silverfinch will continue to develop the templates on the data model as the regulation evolves.

Despite the fact that the European Union is not being very clear about the evolution of the PRIIPs regulation, it seems destined to come into force in less than a year. Silverfinch is exhorting asset managers and insurers to prepare for this now, the better to ensure that their systems can cope with the added burden.