A European law firm is rolling out a new service for asset managers, providing up-to-date legal and regulatory requirements for distributing funds across jurisdictions.
Tech-driven, financial services law firm Zeidler Legal Services has launched the Global Knowledge Hub; an online subscription service for asset managers looking to register and market funds across borders.
The hub compiles both frequently and not-so-frequently asked questions by clients and provides answers in a way that is easy to understand and practical to use.
Content covering 20 jurisdictions is currently available, including Austria, Finland, Germany, Ireland, Italy, Liechtenstein, Luxembourg, Malta, Portugal, Spain, Sweden, and the UK.
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Zeidler plans to release further jurisdictions in batches over the coming months, including Australia. The firm's goal is to cover 45 jurisdictions for Undertakings for Collective Investment in Transferable Securities (UCITS) and Alternative Investment Funds (AIFs).
Topics covered include the process of registering a UCITS; local agency requirements; continuing obligations and disclosure requirements; requirements for marketing materials; information on marketing permissions; and the definition of marketing and reverse solicitation rules in each jurisdiction.
"The traditional model of writing emails back and forth and charging hourly rates to provide answers for repeating questions is over. Our content is provided in a modern layout and design and can be viewed on any mobile device," Zeidler managing director and founder Arne Zeidler said.
The online content is drafted from scratch with a defined scope so as to qualify as structured data, allowing the implementation of a chatbot. Clients initially ask questions of the chatbot before transitioning to a lawyer from the dedicated Global Knowledge Hub team, all in the same dialogue box.
"We felt that we had to provide an alternative solution for smaller and medium-sized asset managers, who simply do not want to pay for the highly priced tools currently on the market," Zeidler said.
The Global Knowledge Hub content is backed by Zeidler Legal Services in its capacity as a law firm, thereby assuming full liability for any content provided, via the bot or lawyers.