Cross-Border Distribution of Funds 101: Part 1 – Pre-marketing

Our latest advisory series considers the key changes being introduced as part of the EU’s framework for the cross-border distribution of investment funds. This framework, comprising a Directive and accompanying Regulation, has the objective of removing regulatory barriers that were identified as significant disincentives to UCITS management companies and AIFMs who wish to avail of the marketing passports for both UCITS and AIFs. This first part of our advisory series focuses on the pre-marketing requirements being introduced in respect of AIFs.

Related briefings

Cayman update: Alternative scheme for proving claims in a liquidation

On 10 September 2021, Chief Justice Smellie QC in Re Premier Assurance Group SPC Ltd. (in Official Liquidation) sanctioned a streamlined adjudication process proposed by the joint official liquidators of Premier Assurance Group SPC Ltd (in Official Liquidation), circumventing the requirement for thousands of participants to lodge separate proofs of debt in an insolvent liquidation.

Asset recovery roundtable: post-pandemic trends in offshore markets

Last month, leading litigation funder and asset management firm Burford posed questions on major legal developments in the offshore markets over the past 18 months and economic trends that will play out in the markets post-pandemic to leading litigators, insolvency practitioners and financial professionals in the region. Partner John O’ Driscoll, who leads the Insolvency and Dispute Resolution team at Walkers in London and practices BVI and Cayman law, took part in a round-table with onshore and offshore counsel to explore the most recent changes relevant to offshore practitioners.

Latest Briefings

Cartels and the construction sector: Levelling up and screwing down

In recent years, the UK’s construction sector has not had a happy track record with respect to competition law enforcement, where the Competition and Markets Authority has fined construction companies a total of £67 million across five cases. Of particular significance is the increased focus on individual responsibility, as these cases also led to the disqualification of 11 directors and two criminal convictions.

Snapshot: Enforcement of foreign arbitral awards in the Cayman Islands

Foreign arbitral awards may be enforced relatively quickly and easily in the Cayman Islands and the Cayman Islands courts are willing to assist with the recovery of judgment debts. This Snapshot provides an overview of the recognition process and the steps that are then available for enforcement.

Jersey Royal Court concludes there is no substratum rule that applies to Jersey trusts

The Royal Court has recently clarified the Jersey law position of whether a trust is able to lose its substratum. Following analysis of the recent decision of the Bermuda Court of Appeal in Grand View Private Trust Company Limited v Wong & Ors, the Royal Court concluded that there was no substratum rule which applied to Jersey trusts and that powers of addition or exclusion contained within Jersey trusts should be given their natural meaning.

Working with AI

On 23 September 2021 Shoosmiths hosted its latest IHL webinar on working with AI: the key types, implementing AI and what the future might bring. Ian Blackwell represented Next Retail Ltd on the panel, alongside Simon McArdle and Sebastian Price, Commercial Partners at Shoosmiths.

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