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Deloitte Mark Ward

Deloitte UK launches new regulatory and investor reporting managed service


Deloitte has launched Prisma, which is designed to help investment managers, banks and insurance firms to navigate complex global marketing regulation and tax rules. As a managed service, Prisma delivers reports for multiple regulatory and investor requirements.   

Mark Ward, head of investment management at Deloitte UK, says: “A recent paper from the World Economic Forum recognised the challenge of regulatory cost pressures on asset managers. It also noted that global regulation has meant significant resource has been used to ensure compliance processes are up to date and properly monitored at any given time.
“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. 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.”
Chris Farkas, co-head of UK investment management managed services, Deloitte, says: “Prisma uses one set of data to satisfy multiple reporting requirements simplifying the process for clients. Deloitte’s project team integrates the data, centralises it in a data repository, and manages the day-to day creation, production and dissemination of these reports. 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.”

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