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Funds

Whether you are launching, operating, lending to or investing in a fund or an alternative indirect investment vehicle, you need to overcome legal hurdles which may be from a domestic and/or cross-border perspective. Our pan-European funds group advises across your key asset classes including private equity, real estate, infrastructure, hedge, venture capital, debt and exchange traded funds. We advise on all types of funds and other indirect structures and across the lifecycle. Our experience and varied client base enables us to advise on the commercial as well as the legal and tax aspects.

We are highly skilled at, and have a reputation for, efficiency and providing commercial and pragmatic advice to reach successful deal conclusions quickly and on sensible budgets. We recognise the fast-moving regulatory climate and aim to simplify the legal minefield with our expert funds guides. These cover developments such as those affecting passporting and private placement regimes and allow you to keep pace with key market changes. We also actively engage in the legislative process, seeking to influence outcomes for the benefit of our client base.

05/01/2024
CMS Expert Guide to AIFM passporting
 The EU Commission promoted passporting rights as one of the key benefits for hedge, private equity, real estate and other alternative investment fund managers authorised under the Alternative Investment Fund Managers Directive (“AIFMD”). How­ever, we

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04/03/2024
Popular investment vehicles in Switzerland
Updated on May 2022 Investment vehicle Im­mob­i­li­en-Ak­tiengesell­schaf­tAn­lages­tif­tun­gVer­trag­lich­er Anlagefonds 1. Form Ak­tiengesell­schaft Corporate – Swiss Stock Corporation Anlagestiftung Corporate...
Comparable
09/02/2024
ESMA reports on impact-washing concerns around funds focused on the United...
IntroductionOn 1 February 2024, the European Securities and Markets Authority (ESMA) published an article on the efficiency of funds focused on the United Nations Sustainable Development Goals (SDG)...
08/01/2024
Switzerland and the UK sign agreement on mutual recognition in financial...
On 21 December 2023, the Swiss Federal Council and HM Treasury in the UK announced the signing of an agreement on mutual recognition in specific areas of financial services between Switzerland and the UK referred to as the Berne Financial Services Agreement (the Agreement). The conclusion of this ground-breaking Agreement is the culmination of more than two years of negotiations following the signing of a Joint Statement on 30 June 2020 aiming at enhancing cooperation in financial services between Switzerland and the UK. 
05/01/2024
Private placement rules and law in Switzerland
1. Summary of private placement provisions for fund interests (if applicable) Switzerland is not a Member State of the EU and is thus not subject to the AIFMD and the respective rules. Switzerland has...
05/01/2024
AIFM passporting in Switzerland
1. Distribution of AIFs Switzerland is not a Member State of the EU and is thus not subject to the AIFMD and its respective rules. Switzerland has its ownset of rules, laid down in the Financial Services...
29/12/2023
UCITS passporting in Switzerland
1. Distribution of EEA UCITS Schemes Switzerland is not a Member State of the EU and is thus not subject to the UCITS Directive and its respective rules. Switzerland has its ownset of rules, laid down...
18/12/2023
ESAs propose amendments to the SFDR RTS
Continuing the theme of frequent changes to the application of the Sustainable Finance Disclosure Regulation (“SFDR”), the European Supervisory Authorities (“the ESAs”) are introducing amendments...
06/11/2023
The Council adopts the EU Green Bonds Regulation
IntroductionOn 23 October 2023, the Council of the European Union (the Council) adopted in first reading the regulation on European green bonds standards (the EU GB Regulation)[1]. This formal adoption...
11/07/2023
EU reaches agreement on Data Act – Comprehensive EU data law is on the...
On 27 June 2023, the European Parliament and Council resolved the remaining open points and reached a political agreement on the EU Data Act, paving the way for a new law that will introduce comprehensive...
11/07/2023
10 key aspects of the notification form for concentrations under the Foreign...
On 10 July 2023, the European Commission adopted the Implementing Regulation and the notification form for concentrations under the Foreign Subsidies Regulation (EU) 2022/2560 (FSR), shortly before the...
20/06/2023
ARTs in detail
EU regulation MICAR now regulates asset-referenced tokens1. DEFIN­I­TION OF ARTSMiCAR defines Asset-referenced tokens (ARTs) as a type of crypto-asset that is not an electronic money token and that purports...
14/06/2023
The scope of application of the Markets in Crypto-assets Regulation
In April 2023, the Markets in Crypto-assets Regulation (MiCAR) was ratified becoming the first regulatory framework for crypto-assets with the strategic goals of protecting consumers, investors and market...