AxiomSL has launched a new shareholding disclosure service using content from aosphere LLP, an online legal services provider.
aosphere, an affiliate of Allen & Overy, will provide AxiomSL with legal documents and alerts on changes to shareholder disclosures legislation, which AxiomSL will make available to financial institutions worldwide.
The new solution will aggregate a group’s total shareholdings for particular issuers, comparing the amounts with the total issued share capital, or voting rights for that issuer, depending on the jurisdiction.
It will then monitor the group for shareholding accumulation and regulatory issues that may have to be reported. The solution includes monitoring for substantial holding, short selling, take-over and industry limits.
Ed Royan, COO Europe, Middle East and Africa, 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.”
He added: “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.”
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