SRD II / ARUG II - Our solution

The 2nd Shareholder Rights Directive II (SRD II) and its transposition into the respective national laws are associated with far-reaching new requirements for intermediaries. Among the duties imposed on all custodian banks, information on shareholder identity and shareholder identification are among the greatest challenges.

 

As a third party service provider/agent, you face the challenge of placing the disclosure request into the intermediary chain, and ensuring a compliant, fast and secure response.

 

Secure identification with the WM-SRD-Hub

 

WM Datenservice, a reliable partner of the European financial industry for over 70 years, offers with its WM-SRD-Hub a compliant, multi-client capable but at the same time user-friendly solution. By bringing issuers and intermediaries together on one platform, the SRD hub enables secure feedback of shareholder identities to the inquiring company.

 

Targeted addressing and dissemination in data feeds

 

For issuers, the WM-SRD hub represents the central point of access, which enables a targeted approach to the relevant players with regard to the request for disclosure of shareholder identity. Simultaneous dissemination via the proven WM data feeds ensures additional dissemination of the information.

 

Advantages at a glance

 

• Detailed check of whether the request for disclosure originates from the issuer, User and profile management for the respective company
• Direct access to intermediaries throughout Europe and the entire chain of intermediaries
• Multi-level identification through the chain of intermediaries also for bearer shares
• User-friendly and standardized entry of requests including workflow support
• Secure return channel for sensitive personal data
• Standardized output formats, uniform and aggregated reports for further processing
• Supplementary reporting options, e.g. evaluations by country, size of shareholding

 

Data provision by WM Datenservice via EDDY_XML

 

In connection with the implementation of the 2^nd Shareholder Rights Directive (SRD II), WM Datenservice will support intermediaries with data deliveries covering the following areas:

• Requests to disclose the identity of shareholders
• Information on invitations to Annual General Meetings
• Information on Corporate Actions (ex Annual General Meetings)

The new product SRD II will include the required new fields starting from August 17, 2020. Data for the new fields will be included in the daily data feed from September 3, 2020 onwards.

Due to the special format requirements of the Commission Implementing Regulation, the fields for SRD II will be provided in EDDy_XML. Delivery in XML also makes it easier for intermediaries to forward the relevant data in the format specified by the Regulation (e.g. as part of the disclosure of shareholder identities). By way of exception, the field “Indicator Category pertinent to SRD II” (GD107A) will additionally be supplied in VF1-format.

New fields relating to SRD II and pertaining to the product “category” will be provided starting from the 92nd Amendment Service coming into effect on June 29, 2020. Data for these fields will likewise be included in the daily data feed from September 3, 2020 onwards.

Further information can be found in the special information issues F03 “WM data on the Shareholders Rights Directive II (SRD II)” published on March 4, 2020 (here) and F03a “WM data on the Shareholder Rights Directive II (SRD II) (Additional information to Special Information issue F03 of March 4, 2020) published on March 31, 2020 (here).