Product release notes: EMT v4.1 has arrived!
In our latest product release, we are making the upcoming version of the European MIFID Template available to our EMT clients.
Kneip is EMT v4.1 ready
On 11 April 2023, FinDatEx published the version 4.1 of the European MiFID Template (EMT) in compliance with the upcoming UK consumer duty regime. It is expected that product manufacturers of funds distributed in the UK will start reporting on the outcome of their initial assessment by end of April. The changes in version 4.1 have been introduced to allow reporting on price and value outcome because of UK Consumer Duty principles launched by FCA on the 27th of July 2022. The EMT v4.0 and v4.1 will be used in parallel.
An easy solution to manage and disseminate EMTs, no matter what version
With this latest product upgrade, you can now produce, manage, and disseminate EMTs in version 4.1 with Kneip, alongside with versions 4.0, 3.1 and 3.0. We provide a full solution for producing, managing, and disseminating EMTs in whichever version and format required by data vendors, distributors, or any other destinations.
What are the changes in EMT 4.1?
This new version introduces a new section containing 10 new fields required for UK firms (product manufacturers or distributors):
– Data fields 95 and 96 (09010 and 09020): ex-ante and ex-post transaction costs using the UK calculation methodology
– Data fields 97-104 (09030, 09040, 09050, 09060, 09070, 09080, 09090 and 09100): UK value for money fields
Does EMT 4.1 replace EMT 4.0?
No. EMT v4.0 and v4.1 will be used in parallel depending on whether a product is being distributed into the UK.
Are vendors ready for it?
With Kneip, EMT v4.1. is now available for any vendor that is ready to receive it. Our Partnership Management team are working closely with all our media partners to understand their readiness with the different versions of the EMT.
How can Kneip help?
We provide a single solution for creating and maintaining MiFID II-compliant target market and cost data definitions for your products – covering EMT v3.0, EMT v3.1, EMT v4 and EMT v4.1.
Take our free EMT compliance check
Can you trust that your EMTs are fully compliant? Upload your EMTs today, and our experts will check if they still meet the requirements. Check your EMT.
Visit www.kneip.com/emt to find out more including the EMT changelog, contact us today.