Arendt Launches AVA, Its Proprietary AI-powered Prospectus Compliance Review Tool

Arendt & Medernach, the leading independent Luxembourg-based law firm specialising in business law, investment funds, corporate law and tax, announced the launch of AVA (Arendt Visa Agent), a proprietary, purpose-built AI solution designed for UCITS prospectus compliance review. Developed in-house and built on Arendt's own legal knowledge and methodology, with the technical architecture delivered in close collaboration with a specialist AI technology partner, AVA marks a key milestone in Arendt's innovation strategy and reinforces its commitment to leveraging advanced technology to support its clients.

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The scale of the challenge

Arendt has developed AVA, an AI-driven compliance tool that draws on the firm's unparalleled market intelligence in UCITS – built over decades of advising fund managers, boards and service providers on Luxembourg's most complex prospectus structures. By translating this accumulated expertise into a comprehensive, machine-readable control framework, AVA enables a more efficient, consistent and scalable approach to prospectus compliance reviews.

Fund managers, boards and other service providers face increasing pressure to manage the cost and timing of compliance-driven legal work, without compromising the quality, consistency or robustness of the review. AVA directly addresses this challenge.

A tool built from the ground up

Rather than relying on an off-the-shelf solution, AVA is the result of an intensive development journey combining Arendt's longstanding experience in UCITS prospectus reviews with advanced AI capabilities. Over many years, Arendt has accumulated substantial legal and regulatory knowledge in this area. This knowledge has been structured, translated into a comprehensive library of controls and adapted for use within AVA's review framework.

For the board of directors of a SICAV, prospectus compliance is not merely a regulatory formality – it is a matter of direct legal responsibility. Directors bear personal accountability for the accuracy and completeness of the prospectus, and any deficiency may engage their liability towards investors and regulators alike. AVA, combined with Arendt's compliance certificate, provides boards with a structured, auditable and documented basis for discharging that responsibility with confidence.

Human expertise in the loop

AVA is designed as a human-in-the-loop solution. Arendt's lawyers remain at the centre of every review: they determine the scope of the exercise, instruct and supervise the analysis, assess the results and exercise independent professional judgement on the conclusions.

AVA supports this process by structuring the review and generating a detailed compliance report. Its findings are categorised as Compliant, Non-Compliant, Inconclusive or Not Applicable, enabling lawyers to focus their review on the points requiring legal assessment or further investigation.

This model combines a scalable and traceable analytical process with lawyer-led interpretation and validation.

Where agreed with the client and appropriate in the circumstances, Arendt may issue a compliance certificate addressed to, and intended to be relied upon by, the board of directors. The certificate provides additional legal comfort in relation to the prospectus within the agreed scope of review.

Strict governance and senior oversight

The launch of AVA is supported by a robust governance framework. A dedicated committee of partners, counsels, senior associates and associates oversees all aspects of the tool, including user feedback, regulatory interpretation, and control updates. Clear protocols govern who reviews findings and when, and Arendt's senior lawyers keep ultimate arbitration authority on regulatory positions, including responses to new CSSF guidance. The tool is always supervised by Arendt's professionals; AI remains a tool, not a decision-maker.

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