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Karagh Gilliatt

Partner

Picture of Gilliatt Karagh

Karagh Gilliatt

Partner

T +44 131 200 7308
F +44 131 228 8888
CMS Cameron McKenna Nabarro Olswang LLP
Saltire Court
20 Castle Terrace
Edinburgh
EH1 2EN
United Kingdom
Languages English

Karagh Gilliatt is a partner in the firm’s Financial Services & Products Team and has over 10 years' experience in financial services law. 

Karagh specialises in regulated funds, asset and transitions management, long-term insurance and related matters. In particular, Karagh implements fund formations, mergers and reorganisations in relation to UK authorised and exempt funds. She has advised on the single largest UK regulated fund merger project, the first NURS set-up under COLL and the first authorised Tax Exempt Fund in the UK.

Karagh also has extensive experience of other non-contentious regulatory work, including insurance business transfers under Part VII Financial Services and Markets Act.

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"CMS provides ‘an excellent level of service’ and ‘advice that is always tailored to client needs’. The team advises on a range of vehicles, including authorised funds, listed funds, private funds and partnerships. Karagh Gilliatt has ‘excellent technical knowledge’ and is ‘personable, approachable and flexible’."

Legal 500, 2015

"extremely knowledgeable and approachable"

Legal 500, 2015

"CMS provides ‘an excellent level of service’ and ‘advice that is always tailored to client needs’. The team advises on a range of vehicles, including authorised funds, listed funds, private funds and partnerships. Karagh Gilliatt has ‘excellent technical knowledge’ and is ‘personable, approachable and flexible’."

Legal 500, 2015

"extremely knowledgeable and approachable"

Legal 500, 2015

Relevant experience

  • Standard Life Investments on the integration of the UK regulated fund business (including ISA business) of Ignis Fund Managers including the mergers of 11 of the Ignis UK authorised unit trusts into a number of sub-funds of Standard Life open-ended collective investment schemes .
  • Aberdeen Asset Management on the integration of the funds (including subsequent fund mergers) as a result of its acquisition of Scottish Widows Investment Partnership .
  • A number of UK asset management companies on the amendments to documentation following the changes to CASS.
  • A number of UK asset management companies (clients include Standard Life, Scottish Widows, Baillie Gifford, T Bailey) in the set-up, acquisitions, conversions and reconstructions of a large range of regulated collective investment schemes, including “fund of fund” structures and “multi-manager” arrangements.
  • Kames Capital plc in the establishment of its Property Authorised Investment Fund
  • A UK-based AIFM on its hedge fund platform
  • A number of UK asset managers and depositaries on regulatory change projects including AIFMD (in relation to a broad range of fund structures), UCITS and MiFID.
  • A life insurer on a number of asset transitions, including transitions forming part of a programme of reinsurance risk reduction.
  • A number of insurance companies (including Scottish Friendly, Standard Life and Aviva) in insurance business transfers under Part VII FSMA and provided advice in relation to various matters, including permitted links, permissions and capital adequacy.
  • A wholesale review of a leading asset manager's protected capital fund range including considering investment management arrangements, derivative documentation, constitutional documentation, marketing literature and terms and conditions.
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Education

  • 1997 - Law, Dip LP, University of Edinburgh, Edinburgh
  • 1996 - Law, LLB (Hons), University of Edinburgh, Edinburgh
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Expertise

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CMS Ex­pert Guide to Pass­port­ing (UCITS)
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Expert Guide
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Funds
06 Jul 17
CP17/18 and In­vest­ment Trust gov­ernance - coals to New­castle?
On 28 June 2017, the FCA pub­lished its long an­ti­cip­ated Fi­nal Re­port (the “Fi­nal Re­port”) on the As­set Man­age­ment Mar­ket Study (the “Mar­ket Study”). The Fi­nal Re­port fol­lows on from the in­ter­im...
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Law-Now Funds
14 November 2019
CMS Guide to Pass­port­ing (UCITS)
Rules on Mar­ket­ing Un­der­tak­ings for Col­lect­ive In­vest­ment...
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Guide Banking & Finance
23 May 17
In­dustry views on open-ended funds and il­li­quid as­sets
Who, what and why? On 24 March 2017, CMS held a round table dis­cus­sion to gauge the in­dustry’s views on the FCA’s dis­cus­sion pa­per on il­li­quid as­sets and open-ended funds[1].  We were joined by a...
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Law-Now Funds
22 Feb 17
FCA con­sults on il­li­quid as­sets held by open-ended funds
The FCA is con­sult­ing on the fu­ture of il­li­quid as­sets and open-ended in­vest­ment funds (Dis­cus­sion Pa­per 17/1).  This fol­lows the well-pub­li­cised sus­pen­sion of re­demp­tions by open-ended prop­erty funds...
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Law-Now Real Estate
18 Nov 16
FCA pub­lishes In­ter­im Re­port on As­set Man­age­ment Mar­ket Study
The FCA has found price com­pet­i­tion to be weak in a num­ber of areas of the as­set man­age­ment in­dustry, identi­fy­ing con­cerns as to wheth­er the mar­ket is provid­ing value to cus­tom­ers (both for re­tail and...
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Law-Now Banking & Finance