Deloitte, a business advisory firm, has launched Prisma, a managed service that helps investment managers, banks and insurance firms to navigate complex global marketing regulation and tax rules.

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

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,” Ward said.

As a managed service, Prisma delivers reports for multiple regulatory and investor requirements.

Prisma includes any combination of the following components: fund registrations for Alternative Investment Funds (AIFs), Undertakings for Collective Investments in Transferable Securities (UCITS) and offshore funds with local regulators; regulatory reports such as AIFMD Annex IV , Form PF and Form CPO-PQR; investor reporting such as marketing factsheets, UCITS Key Investor Information Documents (KIIDs), Solvency II, Packaged Retail Investment and Insurance Product (PRIIP) Key Information Documents (KIDs).

In addition the service provides investor tax reporting and advisory as well as market intelligence and advisory services to stay current with local regulatory requirements, and provide distribution advisory services including client relationship management systems and salesforce effectiveness.

Chris Farkas, Co-head of UK investment management managed services, 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,” he said.