Investment - Articles - Franklin Templeton appoint Silverfinch as SII deadline looms

Silverfinch, has been appointed by Franklin Templeton Investments, one of the world’s leading asset managers, with $880bn AUM to handle the huge quantity of look-through data requests the firm expects to receive from its insurer clients as a result of Solvency II.

 Silverfinch is a secure fund data utility that allows asset managers to respond to their insurance company investors, who will be compelled to provide regulators with detailed information on invested assets from 1 January 2016, the date Solvency II takes effect.
 Franklin Templeton has contracted Silverfinch to ensure insurers have access to the necessary look-through data ahead of the new regulation and enable their insurer clients to remain compliant.
 John Dowdall, managing director of Silverfinch said:
 “The ticking of the Solvency II clock is growing ever louder. What’s concerning is the number of those in the asset management industry still unsure as to how they will deal with the hundreds, potentially thousands, of requests for very granular look-through data from their insurer clients. Unless asset managers can provide the necessary information, in the right format and within regulatory deadlines, these insurers will be in great difficulty.
 “The good news is that forward-thinking asset managers like Franklin Templeton are increasingly alive to the seismic impact this legislation is going to create. We are looking forward to working with the team to provide the secure channel between Franklin and their insurer clients and enable both parties to flourish post Solvency II.”

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