CounterpartyLink has upgraded its market compliance data product.
Version 1.4 of their data product provides more detailed information to support the requirements of MiFID and The Third EU Money Laundering Directive, both of which become law in November of this year.
The new EU Directive now mandates financial institutions to identify the beneficial owners of more than 25% of a legal entity and its directors and officers, while MiFID introduces a series of financial tests in order to undertake client categorisation as part of the drive towards greater investor protection.
“We are very pleased to be able to provide continued support to our clients as they come to terms with these new requirements,” says Christoph Lammersdorf, Managing Director of CounterpartyLink. “Both pieces of legislation now require the ongoing monitoring and maintenance of legal entity data, and this is a key strength for us.”