Rulefinder Marketing
Restrictions
- Asset Management
Helping asset managers market and sell their funds and advisory services cross-border
How it works
Rulefinder MR-AM provides all the information you need for marketing/selling open and closed-ended funds, managed accounts and investment management and advisory services across the globe.
It's simple to access, easy to navigate and maintained daily by a dedicated senior legal team.
The granular structure allows you to consider specific product/service types and activities at a glance.
Access is available as an annual subscription. No tie-ins, no fuss
Coverage includes
- The licensing requirements and exemptions applicable to cross-border marketing/selling of funds, managed accounts and investment management and advisory services
- The position for institutional and retail investors for 80+ jurisdictions
- For each jurisdiction, practical analysis of: general marketing, pre-marketing, reverse enquiry, private placement, and passporting schemes (e.g. AIFMD, UCITS and ELTIF)
Who it's for
Our subscribers include general counsel and other senior legal and compliance people, and business teams at asset management firms.
How it helps
We work with leading counsel across the globe to negotiate detailed memoranda of law which we provide alongside practical colour coded extracts.
The detail is there for those who need it, and available in summary format for those who don't.
aosphere is an incredible tool. It gathers in one easy-to-use format the expertise of local counsel in dozens of jurisdictions, so we can immediately see a high-level view of marketing regulations in a new market. It also provides a deeper level of research when we need more detail. It enables us to respond to requests by our sales partners much more quickly than pre-aosphere days.
aosphere subscriber
Product features
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Disclaimer Builder tool
New to MR-AM: An easy way to pull together disclaimers for your marketing documents
Benefits
- Helps teams work more efficiently: Combined with MRAM Document Checklists, Disclaimer Builder streamlines the process of creating documents for investors, saving all those involved time and effort
- Gives users (and management) confidence: The disclaimers come from an extremely reliable source (our memos produced in liaison with leading local counsel around the world) and are regularly updated
Features
- A user-friendly tool for producing tailor-made disclaimers in just a few clicks
- Covers multiple jurisdictions and various types of marketing activity (general marketing, pre-marketing, active marketing)
- Copy and paste the content into your documents, editing as required
- Includes guidance on disclaimer use
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Document Checklists
New to MR-AM: Document Checklists* - single checklists for all your written marketing requirements in a particular jurisdiction (navigate right for more info on this)
Each checklist considers:
- Do the marketing materials need to be in a particular language?
- Are there specific pieces of information that need to be included where materials are distributed in this jurisdiction
- Might the regulator request to review the marketing documents?
- Which specific disclaimer(s) must be included?
*This feature is currently available for several jurisdictions and gradually being rolled out across the others.
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Simplify compliance
- A comprehensive memoranda of law from local counsel, supplemented with a colour-coded on-screen report of key issues, and a summary
- Access to sources, including local counsel’s contact details
- Disclaimer language (selling legends)
- Marketing Unregistered Funds into Europe App
- Compare and version audit features
- An email alerting service
Jurisdictions covered
We provide consistent and comparable analysis across 80+ key jurisdictions.
Austria, Belgium, Cyprus, Czech Republic, Denmark, Finland, France, Germany, Gibraltar, Greece, Guernsey, Hungary, Iceland, Ireland, Isle of Man, Italy, Jersey, Liechtenstein, Luxembourg, Malta, Monaco, Netherlands, Norway, Poland, Portugal, Russian Federation, Spain, Sweden, Switzerland and United Kingdom
Abu Dhabi Global Market (ADGM), Bahrain, Botswana, Dubai International Financial Centre, Egypt, Israel, Jordan, Kenya, Kuwait, Mauritius, Morocco, Nigeria, Oman, Qatar, Saudi Arabia, South Africa and United Arab Emirates
Argentina, Bahamas, Bermuda, Brazil, British Virgin Islands, Canada (Alberta, British Colombia, Ontario and Quebec), Cayman Islands, Chile, Colombia, Costa Rica, Dominican Republic, Ecuador, El Salvador, Guatemala, Honduras, Mexico, Panama, Paraguay, Peru, United States, Uruguay and Venezuela
Australia, Brunei, China, Hong Kong SAR, India, Indonesia, Japan, Kazakhstan (excluding AIFC), Macau SAR, Malaysia, New Zealand, Philippines, Singapore, South Korea, Taiwan, Thailand and Vietnam
View sample content
Experienced senior lawyers
Rulefinder MR-AM is managed by a dedicated team of senior lawyers who are experts in their field.
The type of questions MR-AM considers
General marketing
- Is general brand marketing permitted e.g. use of name or logo?
- Is publishing articles e.g. thought leadership pieces or research papers permitted?
- Is marketing by means of awareness raising of product/service lines permitted (without reference to a specific Fund or service)?
- Is marketing particular characteristics or an investment strategy permitted (without reference to a specific Fund or service)?
- Is speaking at a finance-related event permitted?
- Is distributing a business card permitted?
Passive marketing (reverse enquiry)
- What constitutes a "reverse-enquiry" / "reverse solicitation"?
- Must a "reverse-enquiry" / "reverse-solicitation" relate to a specific AIF or can it be more general?
- Does it make a difference if there is a pre-existing relationship?
- Does it matter if a third party intermediary made the approach?
- Are there any practical compliance procedures that are advised?
- Does the analysis change for passported and non passported funds?
Private Placement Regimes
- Is active marketing via the PPR permitted? Are there restrictions on selling?
- Are there notification or approval requirements before marketing can commence?
- Is an intermediary required?
- Does Fund structure or investment strategy impact the rules?
- Marketing via telephone, email, hard copy written materials, fly-ins, fly-outs, intermediaries, branding, internet marketing (including social media).
- Written & oral disclaimer language (legends).
Passporting Schemes (UCITS & AIFMD)
- Dedicated European Framework Document provides a comprehensive overview of European legislation.
- EEA coverage examines the impact of EU law, including AIFMD (Directive 2011/61/EU), UCITS (Directive 2009/65/EC), MiFID II (Directive 2014/65/EU and Regulation 600/2014), the Prospectus Directive and the Prospectus Regulation (2017/1129).
- EEA coverage sets out position when using AIFMD Marketing Passport compared to marketing via Article 36 and Article 42 AIFMD.
- Detailed analysis of "AIFMD Marketing" and "Pre-Marketing" for each jurisdiction.
- Monitoring of other regional arrangements for passporting/mutual recognition of Funds across APAC e.g. the Hong Kong-China mutual fund recognition scheme, Hong Kong-Switzerland mutual recognition scheme, Hong Kong-France mutual recognition scheme, ASEAN CIS Framework and the Asia Region Funds Passport.
- Analysis of active marketing via AIFMD Marketing Passport, UCITS (passport and non passported), plus notification process and approval requirements.
