An essential component of the provision of mandatory documents for financial investment products is the supply of the supervisory authorities such as BaFin with the required documents.
In the case of structured financial products, the Final Terms must be sent to BaFin, and in the case of funds, the prospectuses must be sent to BaFin.
In times of digitalization and high personnel costs, automated provision is the required status quo.
The supervisory authorities of the respective countries in which the financial products are to be distributed provide digital interfaces for the submission of documents. For an automated distribution to the supervisory authorities, the distribution must be integrated into the process of creation and approval. Distribution must ensure that the right documents are sent to the right regulator.
After the documents have been submitted, they are checked by the supervisory authorities. Reports are generated on the status of the audit, which in turn are automatically obtained and made available to authorized users.
In accordance with the specifications, the interfaces to BaFin for submitting documents and querying reports were implemented. The technical requirements for the distribution of the documents were discussed with the business department. Based on these findings, configuration options were created to transfer documents to the correct distribution channels according to their metadata. In the course of implementation, BaFin had expanded its services to include the distribution of documents to foreign supervisory authorities. Based on the metadata transmitted with the document, BaFin handles the distribution to the correct foreign supervisory authority.
The reports on the status of the submitted documents are automatically entered into CS Legal and are therefore available to authorized users for viewing.
The provision and review of the documents required by the supervisory authorities is automated via the regular creation and release process of the mandatory documents for financial products.
This eliminates the need for manual delivery across numerous different platforms.
Automated submission is thus a further step in the digitalisation process of creating the mandatory documents for financial investment products.