Seriously.
'Nice one, Mikey!'
Yes, Voice. It's very nice. Look -
Billy Burnside, MD Criterion, commenting says: "The industry has recognised that these processes are far from perfect, and the work involved can be cumbersome. There is also the potential for customer detriment, with an inconsistent approach to processes, which is at the core of implementing the Consumer Duty rules. Standardising processes can really make a difference to not only platforms and DFM's, but ultimately to the consumer. Our unique approach to collaboration delivers solutions that are specified, designed, and approved by subject-matter experts from across the industry.
"This industry expertise is baked into our Standards, giving organisations confidence that standards-based integration will be straightforward to deploy with trading partners and are fit for purpose. Standards-based data integration can help provide DFMs with a consistent MI data set, which will help to streamline processes by avoiding the need for manual re-keying and help to reduce the associated operational risks and mitigation costs. In addition, investment platforms also benefit. Onboarding DFMs who are familiar with an industry-standard approach to managing model portfolios will be easier and less risky for platforms that support them. Moreover, platforms who support industry-standard portfolio management will be more attractive to DFMs, extending the reach of the platform's proposition. Ultimately, both sides will benefit from a less risky operational model and one that is more scalable, inherently reliable, and extensible across all trading partners."
You see, kooks? Billy Burnside!
Thanks, Billy!
But let's start at the beginning -
PRESS RELEASE
Criterion Delivers Business and Technical Standards for Model Portfolio Services (MPS) Management on Behalf of the Industry
29 August 2023
For over 18 months, Criterion, the UK financial services data and process standards organisation, has brought together the investment platform and discretionary fund management (DFM) communities, to produce standards for key processes that support the management of model portfolio services (MPS) on platforms. This is the first time that these processes are being standardised by the industry.
And that's enough.
I've done my good deed for the day, and I'm tired in this heat.
ENDS
ENDS
ENDS
...
Anything else? Poetry?
I've got nine poems now!
'Yippee!'
Yeah, I've finished that new free verse poem and put it in the competition. There's nothing is actually my best short poem, but it's traditional verse, you dig?
This new poem is just as good as the other traditional poem I entered ... maybe better, I don't know.
Oh, I use rhyme in my free verse poems, by the way, just not in a regular scheme.
Laters.
Oh, it's too hot.
Where's the winter I've been dreaming of?
'Bye!'
