UK: Accumulation events to be notified via standardised MT564 messages
Clearstream Banking informs clients that effective
12 June 2023
accumulation events (ACCU) in the UK market (if properly advised by the fund, as per Clearstream Banking standards) will be notified via standardised MT564 messages. The tax voucher service remains unchanged and subject to service subscription by clients at account level. The client must provide a unique email address and the account numbers to be linked to that email address to receive a copy of the tax voucher, if that tax voucher is available and provided by the market.
The MT564 ACCU will provide the accumulation additional information in the 70E::INCO at option level.
As a reminder, the SMPG definition of ACCU is: “Funds related event in which the income (for example, accumulation units) that accrues during an accounting period is retained within the fund instead of being paid away to investors. The retained income is nonetheless deemed to have been distributed to investors for tax purposes.” As a result, Clearstream Banking is not going to send an MT566 Swift confirmation for this event type.
Further information
For further information, clients may contact Clearstream Banking Client Services or their Relationship Officer.
---------------------------
1. Clearstream Banking refers collectively to Clearstream Banking S.A., registered office at 42, avenue John F. Kennedy, L-1855 Luxembourg, and registered with the Luxembourg Trade and Companies Register under number B-9248, and Clearstream Banking AG (for Clearstream Banking AG clients using Creation Accounts), registered office at 61, Mergenthalerallee, 65760 Eschborn, Germany and registered in Register B of the Amtsgericht Frankfurt am Main, Germany under number HRB 7500.