German fund managers have been obliged to set up a new national investor complaints service, as the latest funds regulations from Europe make their presence felt.

The BVI, or Bundesverband Investment und Asset Management, has funded and launched a central Ombudsman's office for the mutual-funds industry, based in Berlin and led by two judges - Gerd Nobbe, a retired chief justice at Germany's federal court, and Wolfgang Arenhövel, president of the Hanseatic Higher Regional Court in Bremen.