Home / Europe / Spain / Funds

Funds

Our specialist investment funds team provides advice on all types of funds and other indirect structures throughout their lifecycle. We advise on key assets including private equity, real estate, infrastructure, hedge funds, alternative funds, venture capital, debt and funds traded on the stock exchange from a corporate and tax perspective.

The creation of a fund, as well as operating, lending and investing, or any other alternative and indirect investment vehicle, represent activities which require the overcoming of certain legal obstacles with regards to both domestic and international regulation. Our pan-European funds group possesses vast knowledge on legal frameworks and is able to anticipate changes and therefore minimise their impact. Our knowledge of the sector enables us to add value to clients through the drafting and updating of specialised ad hoc toolsand our expert guides on funds, which include legal developments such as those affecting cross-border and private positioning, giving clients the latest view of market changes. 


Feed

24/05/2022
The ES­As have sub­mit­ted fur­ther SF­DR quer­ies to the Com­mis­sion
I. Back­ground While Level 1 of the Sus­tain­able Fin­ance Dis­clos­ure Reg­u­la­tion (“SF­DR”) has been ap­plic­able for over a year, the in­vest­ment funds man­agers have been fa­cing un­cer­tain­ties with re­gards...
24/05/2022
Draft re­port on the Com­mis­sion’s pro­pos­al to amend the AIFMD: key changes
1. Back­ground On 16 May 2022, the draft re­port on the pro­pos­al for a dir­ect­ive of the European Par­lia­ment and of the Coun­cil amend­ing Dir­ect­ives 2011/61/EU on al­tern­at­ive in­vest­ment fund man­agers (the...
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 Spain
The AIFMD was trans­posed mainly in­to Span­ish law by means of Law 22/2014 of 12 Novem­ber on ven­ture cap­it­al en­tit­ies, oth­er closed ended col­lect­ive in­vest­ment schemes and their man­age­ment com­pan­ies (“LEC­ROSI”)...
01/12/2021
UCITS pass­port­ing in Spain
1. EEA UCITS Schemes The UCITS Dir­ect­ive is trans­posed in­to Span­ish law mainly by means of Law 35/2003 of 4th Novem­ber, on CIS (“CIS”) and de­veloped by Roy­al De­cree 1082/2012, of 13 Ju­ly, ap­prov­ing...
01/12/2021
Private place­ment rules and law in Spain
Sum­mary of private place­ment pro­vi­sions for fund in­terests (if ap­plic­able) Span­ish law dis­tin­guishes between open-ended or closed-ended col­lect­ive in­vest­ment in­sti­tu­tions (“OE­CII” and “CECII”...
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...