AxiomSL, the global leader in regulatory reporting and risk management solutions announced today it would provide a new shareholding disclosure service using content from online legal services provider aosphere LLP, an affiliate of leading international legal practice Allen & Overy LLP.
aosphere provides AxiomSL with detailed legal memoranda and alerts on changes to shareholder disclosures legislation which will form part of AxiomSL’s strengthened offering to financial firms worldwide.
The AxiomSL solution leverages legal information and guidance notes from the Rulefinder Shareholding Disclosure product provided by aosphere. aosphere specializes in offering user-friendly access to complex legal content for all sizes of financial institutions.
The AxiomSL shareholding disclosure solution aggregates a group’s total shareholdings for a particular issuer in individual entities and compares these amounts with the total issued share capital or voting rights for that issuer, depending on the jurisdiction. The solution then monitors if the group has accumulated a substantial shareholding or if the percentage shareholding has breached any regulatory thresholds, and therefore may be obliged to report the disclosure event.
Our solution covers monitoring and reporting for substantial holding, short-selling, take-over and industry limits. The solution features a monthly release cycle to proactively manage regulation and reporting changes with full transparency.
“We’re pleased to complement AxiomSL’s compliance offering with our world-class Rulefinder service which provides a detailed analysis of global reporting obligations,” said Marc-Henri Chamay, Chief Executive, aosphere.
Commenting on the launch of the service, Ed Royan, Chief Operating Officer EMEA, AxiomSL said, “Firms need a single platform with embedded rule sets that reflect the shareholding disclosure requirements in all of the countries in which they have investments. We continually update our reporting templates to reflect regulatory changes. This leaves firms free of arduous development work and eliminates the cost of maintaining a separate data system in each jurisdiction.”
The AxiomSL platform will utilize aoesphere’s Rulefinder which will update the rules for shareholding disclosure requirements in 87 jurisdictions, so firms can be confident that their disclosures are both compliant and transparent.
“AxiomSL offers a single platform for all regulatory reporting, not just shareholding disclosures. We are reducing the risk and regulatory burden on our clients by providing a single platform that can be used to comply with multiple regulations globally,” said Ed Royan.