FinDatEx today publishes the European MiFID Template (EMT V4.1) making the necessary changes to comply with the upcoming UK consumer duty regime which starts applying from 31 July 2023 for financial products and services.
The EMT V4.1 includes 10 new optional fields (which become mandatory and conditional apply only if 09030 is set to is set to "Y") required for funds being distributed in the UK. These fields include:
FinDatEx understands that the UK FCA has set out an expectation that manufacturers will communicate the outcome of their initial assessment by end of April. Please note that the EMT V4.0 and V4.1 will be used in parallel (depending on whether a product is being distributed into the UK).
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