London
02 February 2016
Reporter: Stephanie Palmer

Deloitte reporting through a Prisma


Deloitte UK has launched a new regulatory and investor reporting service, Prisma.

The service is intended to support global regulatory requirements, including the new Packaged Retail and Insurance-based Investment Products (PRIIPs) rules for distribution to retail clients.

The launch comes in response to complex global marketing regulations and tax rules, which impose different notification, registration and reporting requirements, depending on jurisdiction and investor types.

Prisma is designed to help investment managers, banks and insurance firms to manage these complexities, delivering reports tailored to various regulatory and investor requirements.

Mark Ward, head of investment management at Deloitte UK, said: “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.”

He added: “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 at Deloitte, said: “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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