Mr Sier told FTAdviser: "My personal experience of asset management operations and systems, borne out by the experience of ClearGlass, is that many asset managers will need some, but not much, time to reconfigure their systems to accurately collect the data needed for the CTI templates, especially at scale. Hence the ‘deadlines’ suggested by the CTI.
"However, it is important to recognise that the dates given by the CTI are ‘backstop’ or ‘latest-by’ deadlines; asset managers are expected to complete the process sooner than those dates.
"It is still a competitive market and those managers that develop the capability sooner have an advantage with clients, both from a trust perspective and a data perspective."
On May 10, Mr Sier highlighted four asset managers (Baillie Gifford, Legal & General, Majedie and MFS) which stood out by showing commitment to the new regime, while five others refused to take part.
Although ClearGlass will not reveal the names of the five managers which declined to provide any data, saying this was a matter for the pension clients of these asset managers and the regulators, Mr Sier said he was looking to release a full list of managers willing to comply in the near future.
He said: "We will shortly be releasing the names of all the managers with which we have successfully worked over the past five months. These managers also deserve the social and commercial credit that willingly giving data delivers.
"In addition, we are offering all the asset managers we have not yet contacted the opportunity to be pre-compliant with us so they may also be added to this list. We feel it unfair that some managers, simply by dint of not have a client approach us, don’t gain the credit that is their due.
"We hope this compliance and pre-compliance list represent the ‘gold-standard’ for asset management transparency and that managers will want to be on it."
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