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Deloitte launches regulatory and investor reporting service

Business advisory firm Deloitte has launched a new service targeting investment managers, banks and insurance firms struggling to navigate the growing wave of complex marketing regulations and tax rules.

Deloitte launches regulatory and investor reporting service

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The service, to be called Prisma, is for global managers fulfilling global requirements.

Mark Ward, head of investment management at Deloitte UK, noted that the rising tide of global regulations are imposing heavy costs on asset managers and mean a significant amount of resources have to be deployed to ensure compliance processes are up to date and properly monitored.

“Investment managers are subject to a complex set of marketing and distribution rules, including AIFMD, Dodd Frank and Solvency II, requiring different notification, registration and reporting requirements across jurisdictions and investor types,” Ward said.

“The implementation of new Packaged Retail and Insurance-based Investment Products (Priips) rules for distribution to retail clients will also capture insurance, pensions, structured products providers as well as non-Ucits funds who will now need to produce Key Information Documents (Kids).

“While managers grapple with the legal, operational and technology aspects of this challenge, regulators increased their focus on consistent, timely and accurate disclosures to investors. These circumstances point to a high risk of error and inefficiency,” he said.

Single imput

The Prisma service takes one set of data, integrates and centralises it in a data repository, and manages the day-to day creation, production and dissemination of a firm’s required reports as regulators around the world are increasingly asking for similar information.

“This reduces the risk of error, and enables the clients’ marketing, technology, legal, compliance and operational teams to focus on issues more central to the management of their firm and wider business objectives,” said Chris Farkas, co-head of UK investment management managed services at Deloitte.

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