Five reasons why you should take a look at e-file

Navigating the regulatory evolution with FE fundinfo

From AIFMD to PRIIPS, and with ESMA pushing for greater standardisation, asset managers face a constant challenge to stay compliant across multiple jurisdictions. 

As Luxembourg’ Commission de Surveillance du Secteur Financier (CSSF) rolls out the S3 Application Programming Interface (API) for fund reporting, asset managers are faced with an option to adopt a direct access, self-serve tool or invest in a comprehensive solution. While S3 offers a direct transmission channel comparable to a "rail track", FE fundinfo's e-file platform provides a complete and centralised transport hub of features designed to streamline regulatory compliance across multiple EU jurisdictions. 

We know that regulators will continue to evolve their requirements, which makes having a trusted partner in regulatory compliance management more crucial than ever. Let's explore why e-file remains the superior choice for navigating the ever-changing landscape of European fund reporting.

The e-file advantage

 1. Complete transparency 
E-file offers a comprehensive dashboard that provides clear visibility into submission statuses, deadlines and regulatory requirements. This level of transparency is crucial for effective compliance management and is simply not readily available with the simple direct access offering. 
 
A dedicated user interface makes this process both seamless and secure. E-file offers a full audit trail for user management and security protocols. This ensures that all user actions are monitored and tracked, providing an additional layer of control.  
 
2. Cross-border capabilities
While direct access is currently limited to domestic regulatory reporting, e-file facilitates the transmission to and communication with six other national competent authorities (NCAs) in Luxembourg, including submissions for AIFMD, CRS, FATCA, and Solvency reporting.

For Luxembourg funds distributed across multiple European countries, e-file offers unparalleled efficiency by centralising domestic reporting in Luxembourg as well as fund registration maintenance across regulators in Europe, such as PRIIPS KID transmission.
 
3. Proactive response to regulatory changes
With over a decade in the market, e-file's scope of capability is continuously adjusted to meet new reporting requirements. FE fundinfo continuously monitors regulatory developments not only locally in Luxembourg but also across European domiciles and applies it to e-file functionality. This ensures that asset managers are always prepared for the next regulatory change without needing to dedicate internal resources to regulatory horizon scanning and the template updates that result from changes.
 
4. Streamlining Workflows
E-file offers a range of features that reduce the administrative burden of compliance reporting, from automated reminders for reporting deadlines to pre-filled templates and validation checks. As part of a larger ecosystem of fund management tools, e-file integrates seamlessly with other services such as fund registration and dissemination to commercial counterparties (data vendors, platforms, distribution networks or even internal stakeholders), offering a cohesive solution for various aspects of fund maintenance. 

Direct access might be that rail track, but e-file is a complete and centralised transport hub for fund management information, offering a single unique gateway through which all required reporting will be covered.

5. Long-term cost optimisation
While open access is technically free, the total cost of ownership should be considered. This includes the need for additional internal resources, time spent on manual processes and the risk of errors or missed deadlines. 

E-file's comprehensive approach often results in overall cost savings in the mid-to-long run through a streamlined user experience, management of user permissions, audit trail, and monitoring, to name a few.

Beyond S3: Why e-file is the comprehensive solution for EU fund reporting

As regulatory requirements continue to evolve, e-file has a track record for agility and support. FE fundinfo's decades of industry experience ensure that e-file is continuously adapted to changing reporting transmission requirements. Asset managers and fund administrators operating in multiple countries rely on our broader scope: the larger the operation, the more value e-file can provide.

While S3 offers a single fast and free train, e-file represents a fully functional transport hub, complete with infrastructure and functionalities for production and transmission to multiple institutions across Luxembourg and expanding to serve other jurisdictions. By choosing a complete solution instead of a menagerie of one-off solutions, firms can streamline their compliance processes, reduce risk, and shift their focus back to crucial core business activities. 
 
Because regulatory requirements will only continue to evolve, partnering with a trusted provider like FE fundinfo ensures that you're always one step ahead in the compliance game.