In the ‘Regulatory details’ step within the Enrich stage, the user (who, depending on the financial institution’s Target Operating Model, can be for example the back-office department responsible for performing due diligence on the customer, or the Relationship Manager or a Mid-office employee) must perform an initial assessment to distinguish the class and asset class of products in order to determine whether EMIR applies or not. The relevant fields of such initial assessment are displayed when the product selected is EMIR eligible. For more information, see section ‘Triggers’.
The fields in the ‘Regulatory details’ step are configurable by the financial institution according to their procedures.
In its out-of-the-box behaviour, the input entered within the ‘Regulatory details’ step does not pre-populate the relevant EMIR items in the Global AML questionnaire of the customer (i.e., GKYC sub-case) within the Due Diligence stage, but that can be easily configured.
The answers to the EMIR items in the GKYC sub-case of the customer will determine whether or not the EMIR questionnaire will be displayed.