﻿Deloitte Luxembourg has chosen Finesti, information agency for investment funds, to support its service with a range of activities to meet specific UCITS IV requirements.
The Finesti services supplied to Deloitte for its clients, including investment funds and fund management companies domiciled in and around Luxembourg will encompass e-filing as well as the dissemination of Key Investor Information Documents (KIID).
Finesti has created a notification service, a module of its existing e-file.lu platform and currently used by Luxembourg funds for regulatory and statistical reporting to the authorities. The company is broadening the use of this platform from Luxembourg to all EU regulators. Deloitte Luxembourg will use this platform as part of their cross-border Fund Registration Services (FRS) to submit the initial notification file to the CSSF and potentially different foreign regulatory authorities within the cross-border marketing activities of their client's fund ranges. Deloitte Luxembourg's FRS, one of the market leaders within the cross-border distribution support service, currently assists 53 different clients with 189 different vehicles domiciled in 6 different countries and distributed in 31 countries.
The accord will also give Deloitte Luxembourg, and their clients, access to services for KIID distribution, including dissemination to distributors and EU regulators and tracking of KIID distribution. Deloitte may furthermore use Finesti's white labelling techniques for their own websites.
Lou Kiesch, partner at Deloitte Luxembourg, explains: "This ground-breaking deal between two industry leaders, each in their own field, talks to the concept of an integrated solution with its inherent advantages to our cross-border registered clients. Indeed, time to market and economies of scale are a corner stone to our strategy and our service. This agreement offers our clients the greatest possible choice through a recognised commitment to open architecture and the modular provision of services where required."
Dominique Valschaerts, CEO of Finesti, says: "We are extremely pleased with this deal. We have been at the forefront of reporting for many years and have developed a robust solution for UCITS IV. 80 institutions are using our platform for UCITS IV cross-border notifications. We believe that the suite of services chosen for this deal is far-ranging and covers a large number of fund industry activities and requirements."