Deloitte launches regulatory compliance service for asset managers

Precedes introduction of MiFID II

Deloitte has launched a service to help investment managers, banks, and insurance firms comply with increasing levels of global marketing regulation and tax rules.

The new managed service, called Prisma, will use one set of data to satisfy multiple reporting requirements, with the aim of simplifying compliance for clients.  Its launch precedes several regulatory milestones for UK asset managers over the next two years, including the introduction of regulation on packaged retail and insurance-based investment products (PRIIPs) in December 2016. Additionally, January 2017 marks the provisional introduction date for the Markets in Financial Instruments Directive II, although a 12-month delay until January 2018 has recently been backed by the EU par...