UCITS Legal Updates September 26, 2018
The Securitisation Regulation: Implications for UCITS management companies and AIFM
Dillon Eustace is a leading legal adviser to domestic and international fund service providers and investment platforms.
Our comprehensive service includes advising on structuring, establishment, authorisation and ongoing legal and regulatory compliance. We offer specific expertise across all key areas, including: capitalisation and capital adequacy; internal compliance programmes and staff training; drafting new or improving existing documentation templates; contract negotiation; cross-border passporting of services; marketing; and advising on legal, regulatory and tax developments in the asset management industry.
We work with fund service providers and investment platforms of all kinds, including:
- Fund administrators that provide services – such as transfer agency, net asset valuations and fund accounting – to Irish domiciled funds and non-Irish domiciled funds including UCITS and alternative investment funds (AIFs).
- Depositaries providing trustee and custodial services for Irish and non-Irish domiciled funds.
- UCITS management companies the regular business of which is collective portfolio management of funds and which are engaged in the management of UCITS and other collective investment schemes and which may be authorised to provide additional investment services.
- Alternative Investment Fund Managers (AIFMs) – corporate entities authorised to manage one or more AIFs and which may be authorised to provide additional investment services.
- Dual UCITS management companies and AIFMs or “Super ManCo”. This is a single legal entity with a single board and with a single capital adequacy requirement that can manage UCITS, AIFs and other types of clients across multiple jurisdictions.
- AIF management companies providing management services to AIF schemes pursuant to applicable Irish fund legislation.
- Self-managed investment companies (SMICs) or internally managed AIFs – authorised corporate funds which have not appointed an external management company and which themselves comply with applicable provisions set down in the UCITS Regulations or AIFMD as applicable in relation to capital requirements and organisational and conduct of business requirements.
Dillon Eustace offers comprehensive legal support together with a full range of complementary services – from regulatory, tax and company secretarial through to listings services. Our dedicated Regulatory and Compliance Team, Listings team, Company Secretarial team and Tax Advisory Team work with our Asset Management and Investment Funds specialists to ensure that we meet all client needs.
Our specialist advisers have the commitment, resources and proven track record to remain at the forefront of innovation for fund service providers and investment platforms. We ensure our clients benefit from in-depth knowledge and leading-edge expertise in all key aspects – whether advising on structuring entities or engaging with and challenging regulators, stock exchanges and other governmental bodies.
Our highly experienced investment funds team of 40 lawyers, including 15 partners, offers a truly international outlook with Irish, US, UK and Cayman law specialists. We continue to invest in the expertise required to make us the number one choice for a wide variety of fund service providers and promoters, including international and domestic asset managers, banks, management companies, depositaries, fund administrators and global financial organisations in relation to all aspects of the asset management and investment funds industries in Ireland and Cayman.
