Transaction reporting timeline
Follow our process of successfully delivering the first MiFID II project to all UK clients.
Transaction reporting timeline
Transaction reporting for MiFID II was a large-scale two-year project with multiple phases, supporting all of our UK SEI Wealth PlatformSM clients.
Discover phase — 2015
Action points
Frontify Image
May-June Elimination exercise to confirm issues affecting SEI as a regulated entity or our clients
July Briefing session for clients to engage directly with SEI and external experts
July-August Clients conduct thematic reviews to assess specific impacts on their business
September Individual clients consultations
Prepare phase — 2016
Action points
Frontify Image
December-March Completion of transaction reporting questionnaires to define specific requirements
"We invited Morningstar, Simmons & Simmons, and the FCA to share a wider industry view"
Project Lead
Plan — 2017
Action points
Frontify Image
May Client readiness forums
June Move to six-weekly cycle for workshops
July-August EY brought in for six week deep-dive into required solution
August Informal feedback sessions with EY and clients to share key insights
Execute — 2017
Action points
Frontify Image
October Wave 1 deployment
November Final code release prior to going live
December Parallel run conducted
"Each client interpreted the guidelines in their own way so they wanted reporting tailored to them."
Project Lead
Deploy — 2018
Action points
Frontify Image
- ‘War room’ staffed by project teams and developers set up in readiness for launch day
-
Daily 7 a.m. briefing call with clients throughout first week from launch, backed up by daily update email
- Software update with process improvements to finesse reporting clarity and streamline exceptions process
- Lessons-learned sessions with clients
Support — 2018
Action points
Frontify Image