Funds

News

Offices

Cadwalader ramps up in London with Norton Rose Fulbright hire

Cadwalader Wickersham & Taft has recruited its third London lateral in as many months, with the firm now set to bring on board a funds partner from Norton Rose Fulbright. This time the firm has picked Michael Newell, who specialises in funds and has been at Norton Rose Fulbright for a decade. As part of […]

O’Melveny funds veteran resurfaces at HSF

One of O’Melveny & Myers’ last remaining London funds lawyers has emerged at Herbert Smith Freehills, continuing an exodus that began last year. Private equity veteran Jonathan Blake has joined Herbert Smith Freehills as head of its international private funds strategy. Blake’s departure leaves the US firm’s Paternoster Square office with just four remaining partners. […]

Slater & Gordon targets Hargreaves Lansdown after Woodford implosion

Following the high-profile collapse of Woodford Investment Management and its Equity Income Fund this month, it was only a matter of time before the claims came flooding in, with Slater & Gordon now leading the way on any potential legal action. It was confirmed this week that the Australian-based firm is investigating claims against Hargreaves […]

Goodwin expands in Continental Europe with Luxembourg launch

Three years after opening its last office in Continental Europe, Goodwin Procter has continued to expand in the region with a new funds-focused office in Luxembourg. Goodwin’s latest outpost, which will be led by partner Alexandrine Armstrong-Cerfontaine, is an addition to its already existing London-based desk for the region. Armstrong-Cerfontaine will split her time between […]

Analysis

Home office
1

For some firms WFH policies were a tick-box thing. Not any more.

Within the space of five days from Monday 16 March, working from home (WFH) became the new normal for the vast majority of the population. Lives and habits changed instantly. You’ve probably already enjoyed at least one Zoom cocktail party, reacquainted yourself with your children and perhaps joined an online choir? From a legal market […]

Turning corporate lawyers into restructuring specialists won’t be easy

As companies continue to look to the government for survival in the coming weeks, restructuring practices across the City, which had been kept arguably lean until now, are sure to need extra hands in the coming months. Across law firms, corporate associates are poised to be drafted onto restructurings and workouts. The mass redeployment of […]

Smiling frogs: the mid-tier firms bouncing back

Last summer, one of The Lawyer’s cover stories focused on the UK mid-tier. It put forward the proposition that many of the firms outside the UK top 50 were ‘boiling frogs’ – surfing comfortably on the surprisingly small amount of growth needed to maintain market position without necessarily adapting to the slowly changing conditions that […]

podcast

The ups and downs of US firms in London

In this episode The Lawyer editor Catrin Griffiths and deputy editor Matt Byrne discuss the impact of coronavirus, the latest US financials season, and whether law firms are actually listening to their clients on one of the biggest issues in the world today.

New QCs at a time of change: the silks of 2020

As 114 new silks celebrated their success in the 2020 Queen’s Counsel appointments, they were also marking the end of an arduous selection procedure – all for the honour, pride and privilege of securing those two prestigious letters that can reshape a legal career.  Finally gaining the QC kitemark gives some barristers a sense of […]

Funds Briefings

[Video] Insight into Jersey, an international finance centre

Ever wondered about the historic links between Jersey and New Jersey? And why Jersey is attracting US fund managers? You can learn about this and more, including the advantages of using Jersey as a gateway to Europe, in this new video. As a forward-thinking jurisdiction, Jersey remains committed to supporting high-quality global investment flows. We […]

Mutual funds – enhanced information required for annual returns

The Mutual Funds (Annual Returns) (Amendment) Regulations, 2020 (the “2020 Regulations”) came into effect on 17 March 2020 to further strengthen anti-money laundering and counter financing of terrorism measures in the Cayman Islands. Mutual funds are now required to provide additional data to the Cayman Islands Monetary Authority (“CIMA”) for its use in assessing money […]

Jersey cash box structures

Given the unprecedented effects of COVID-19, including widespread travel restrictions, listed companies may have to consider alternative ways to raise capital on an urgent basis, notwithstanding the current condition of the financial markets.

Cayman Islands to maintain funds appeal with latest regulatory changes

With the enhancement of Cayman Islands’ regulatory framework in the form of the introduction of the International Tax Co-operation (Economic Substance) Law, 2018 and its related Regulations (ES Law) and welcome updates in 2019 and early 2020 to the Securities Investment Business Law (SIBL), the Anti-Money Laundering Regulations (AML Regulations) and the Mutual Funds Law […]

New rules for “pre-marketing” funds – effect on Guernsey and Jersey AIFMs

The Cross Border Distribution Directive (“Pre-Marketing Directive”) amends the Alternative Investment Fund Managers Directive (“AIFMD”). Member States have until 2 August 2021 to amend their legislation to include the new rules. The Pre-Marketing Directive provides for a uniform approach to the “pre-marketing” of alternative investment funds (“AIFs”) within EU Member States. Member States do not […]

The new BVI Private Investment Funds regime

By Robert J.D. Briant, Anton Goldstein The British Virgin Islands (BVI) has introduced a new regulatory regime for the recognition of private investment funds. Under the new regime, closed-ended funds, including private equity and venture capital funds, which were previously not regulated in the BVI, will have to be recognised by the Financial Services Commission […]

A very public success story – Three years of the Jersey Private Fund

The Jersey Private Fund has been a very public success. Launched three years ago, the JPF substantially simplified the Jersey offering for a funds product that resets the regulatory demands for fund managers that aren’t raising money from a huge number of investors, are targeting only sophisticated investors and, in some cases, aren’t publicly raising […]

Buoyant monterey figures reflect global traction for Jersey’s funds industry

Figures in the latest analysis of Jersey’s funds industry by research company Monterey Insight paint a buoyant picture of the sector and reflect Jersey’s increasingly global appeal, pointing in particular to the traction the jurisdiction is gaining in the US and Asian markets. The 25th annual Monterey Jersey Fund Report, published this week, highlights that […]

Jersey banking and funds sectors report strong end to 2019

Jersey’s financial services industry reported a strong end to 2019 with its funds sector seeing an annual 8% increase in the value of assets it services to reach another record high, and the banking sector reporting the highest level of deposits in more than six years, according to the latest industry statistics. Figures for the […]

Securities and Investment Business (Amendment) Act, 2019 – New regulatory regime for closed-ended funds in the BVI

In response to the requirements of the European Union (“EU”), the BVI has recently enacted the Securities and Investment Business (Amendment) Act, 2019 (the “SIBA Amendment”) and the related Private Investment Funds Regulations, 2019 (the “Regulations”) that bring closed-ended funds under regulatory supervision by the BVI Financial Services Commission (“FSC”). The new regulatory regime came […]

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