EFAMA in collaboration with SWIFT, has published a new report on the automation and standardisation rates of fund orders received by transfer agents (TAs) in the cross-border fund centres of Luxembourg and Ireland in 2019. The report highlights the progress made in the increased automation of fund orders and the use of ISO standards.

Twenty-nine TAs from across Ireland and Luxembourg participated in the survey covering 80% of the Irish market and 75% of the Luxembourg market.

Key findings from the report include:

We see ESMAs consultation on the use of credit rating information and data as an opportunity to further develop the European Rating Platform as a single and free access point for all users of credit rating information. We also call for greater scrutiny over Credit Rating Agency (CRA) affiliates, insofar as their licensing agreements and unfair bundling practices are concerned, concluding that these entities should be scoped into the CRA Regulation.