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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.

19/08/2021
CMS Funds Glob­al Bro­chure
The world in which the in­ter­na­tion­al funds in­dustry op­er­ates is chan­ging at un­pre­ced­en­ted speed. The eco­nom­ic con­sequences of Cov­id-19 present a massive chal­lenge to some funds and an op­por­tun­ity to oth­ers...

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11/05/2022
SF­DR con­tin­ues to evolve: more gran­u­lar dis­clos­ures to be pro­posed on in­vest­ments’...
Fin­an­cial products with ex­pos­ures in fossil gas and nuc­le­ar en­ergy are likely to have more gran­u­lar re­port­ing re­quire­ments un­der the Sus­tain­able Fin­ance Dis­clos­ure Reg­u­la­tion (“SF­DR”). The European...
11/05/2022
SF­DR’s Prin­cip­al Ad­verse Im­pacts In­dic­at­ors on course to change
The European Com­mis­sion has giv­en the European Su­per­vis­ory Au­thor­it­ies (“ES­As”) a man­date to re­view the SF­DR Del­eg­ated Reg­u­la­tion in­dic­at­ors for prin­cip­al ad­verse im­pact and the fin­an­cial product...
08/04/2022
The Pro­posed Dir­ect­ive on Cor­por­ate Sus­tain­ab­il­ity Due Di­li­gence – a step...
The Pro­posed Dir­ect­ive on Cor­por­ate Sus­tain­ab­il­ity Due Di­li­gence (the “CSDD Pro­pos­al”), pub­lished on 23 Feb­ru­ary 2022, aims to im­pose ob­lig­a­tions on com­pan­ies, their sub­si­di­ar­ies and their value chains...
07/03/2022
EU and UK Sanc­tions against Rus­sia: a fo­cus on the Fin­an­cial Sec­tor
In re­cent days the EU and the UK have ad­op­ted and ex­pan­ded a num­ber of  sanc­tions meas­ures against Rus­si­an and Be­larus­i­an in­di­vidu­als and com­pan­ies. This art­icle fo­cuses on re­strict­ive meas­ures dir­ec­ted...
10/01/2022
CMS Next
What’s next? In a world of ever-ac­cel­er­at­ing change, stay­ing ahead of the curve and know­ing what’s next for your busi­ness or sec­tor is es­sen­tial.At CMS, we see ourselves not only as your leg­al ad­visers but also as your busi­ness part­ners. We work to­geth­er with you to not only re­solve cur­rent is­sues but to an­ti­cip­ate fu­ture chal­lenges and in­nov­ate to meet them.With our latest pub­lic­a­tion, CMS Next, our ex­perts will reg­u­larly of­fer you in­sights in­to and fresh per­spect­ives on a range of is­sues that busi­nesses have to deal with – from ESG agen­das to re­struc­tur­ing after the pan­dem­ic or fa­cing the di­git­al trans­form­a­tion. We will also share with you more about the work that we are do­ing for our cli­ents, help­ing them in­nov­ate, grow and mit­ig­ate risk.To be able to provide you with the best sup­port, we im­merse ourselves in your world to un­der­stand your leg­al needs and chal­lenges. However, it is equally im­port­ant that you know who we are and how we can work with you. So, we in­vite you to meet our ex­perts and catch a glimpse of what is hap­pen­ing in­side CMS.En­joy read­ing this pub­lic­a­tion, which we will up­date reg­u­larly with new con­tent.CMS Ex­ec­ut­ive Team
01/12/2021
AIFM pass­port­ing in Bel­gi­um
1. EEA AIFMs AIFMs au­thor­ised in their EEA home State may ex­er­cise pass­port rights for man­age­ment and mar­ket­ing in Bel­gi­um in re­la­tion to most types of AIF, on a ser­vices and / or branch basis. In or­der...
01/12/2021
UCITS pass­port­ing in Bel­gi­um
1. EEA UCITS Scheme EEA Man­age­ment Com­pan­ies may ex­er­cise pass­port­ing rights for the mar­ket­ing of an EEA UCITS Scheme in Bel­gi­um. In or­der to do so, the re­quire­ments of the Bel­gian law of 3rd Au­gust...
01/12/2021
Private place­ment rules and law in Bel­gi­um
Bel­gi­um has im­ple­men­ted AIFM Dir­ect­ive 2011 / 61 / EU (the “Dir­ect­ive”) in­to its law dated 19 April 2014 on AIF and their man­agers (the “Law”). AIFM re­gis­tra­tion/ pass­port­ing Pur­su­ant to the Law...
31/08/2021
Bel­gi­um: Dir­ect­ors of reg­u­lated firms can no longer be bound by an em­ploy­ment...
Un­til re­cently, dir­ect­ors of reg­u­lated firms were per­mit­ted to serve as dir­ect­ors on a self-em­ployed basis and, at the same time, to per­form their op­er­a­tion­al func­tions as em­ploy­ees. Those days are now...
19/08/2021
CMS Funds Glob­al Bro­chure
The world in which the in­ter­na­tion­al funds in­dustry op­er­ates is chan­ging at un­pre­ced­en­ted speed. The eco­nom­ic con­sequences of Cov­id-19 present a massive chal­lenge to some funds and an op­por­tun­ity to oth­ers...
01/06/2021
Some leaks can­'t be fixed
“Con­fid­en­tial in­form­a­tion is like an ice cube... give it to the party who has no re­fri­ger­at­or or will not agree to keep it in one, and by the time of the tri­al you have just a pool of wa­ter.” This...
24/05/2021
Fin­an­cial Con­duct Au­thor­ity (FCA) con­firms that Sus­tain­able Fin­ance Dis­clos­ure...
This Fo­cus­ing on Funds looks at new changes in the UK's ap­proach to the Sus­tain­able Fin­ance Dis­clos­ure Reg­u­la­tion (SF­DR). The Fin­an­cial Con­duct Au­thor­ity (FCA) has con­firmed that the SF­DR will not ap­ply...