Home / Europa / Nederland / Funds

Funds

Wij assisteren bij het structureren en oprichten van beursgenoteerde en niet-beursgenoteerde fondsen in verschillende sectoren. Wij adviseren over de meest gunstige structurering van fondsen vanuit fiscaal en juridisch oogpunt. Met teams in alle relevante jurisdicties in Europa helpen wij bij het aanvragen van een vergunning en identificeren de mogelijke vrijstellingen van een vergunningplicht.  Ook stellen wij de aanbiedingsdocumentatie op en adviseren wij over de voorschriften die van toepassing zijn op de marketing en aanbieding van participaties in het fonds. Wij hebben ruime ervaring in de advisering over marketing van buitenlandse fondsen in Nederland, waaronder de notering van buitenlandse fondsen aan de Amsterdamse beurs.

Of u nu een fonds - of andere indirecte beleggingsinstelling - opricht, leidt, of erin investeert, u krijgt onvermijdelijk te maken met juridische obstakels. Deze obstakels kunnen een nationaal, maar ook een grensoverschrijdend karakter hebben. Onze Funds-teams bevinden zich overal in Europa en adviseren over verschillende categorieën beleggingen, zoals private equity, vastgoed, infrastructuur, hedge, durfkapitaal, obligatiefondsen en ETF's. Onze ervaring en cliëntenbestand stellen ons in staat om te adviseren ten aanzien van zowel de commerciële als alle juridische en fiscale aspecten.

Wet- en regelgeving kunnen razendsnel veranderen. Om te zorgen dat het juridische mijnenveld voor u zo overzichtelijk mogelijk is, en dat u gereed bent voor grote veranderingen in de markt, vindt u op onze website regelmatig publicatiesover actuele onderwerpen. Denk bijvoorbeeld aan ontwikkelingen op het gebied van passporting en private placement-regels.

Uw vragen kunnen betrekking hebben op de gehele levenscyclus van een fonds: de oprichting, de meest gunstige structurering vanuit fiscaal en juridisch oogpunt, de toetreding van investeerders, operationele en beleggingsactiviteiten, en vergunningseisen. Wij helpen u bij dit gehele traject, nemen u de aanvraag van vergunningen uit handen en identificeren de mogelijke vergunningsvrijstellingen.

Sub­scri­be to Funds to­pics

Feed

28/06/2022
CMS be­noemt Jas­per Kamp­her­beek tot part­ner
CMS be­noemt per 1 ju­li 2022 toe­ge­voegd no­ta­ris Jas­per Kamp­her­beek tot part­ner. Met de­ze be­noe­ming ver­sterkt CMS haar prak­tijk­groep Re­al Es­ta­te & Con­struc­ti­on.Ma­na­ging part­ner Wil­lem Hoor­ne­man over de...
01/06/2022
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
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...
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...
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...
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...
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...
05/04/2022
Back to Ba­sics brie­fings
CMS Funds Group Back to Ba­sics brie­fings in­tend to pro­vi­de high le­vel in­sights re­gar­ding funds fun­da­men­tals, funds ve­hi­cles and ope­ra­ti­o­nal con­si­de­ra­ti­ons New brie­fings are pu­blis­hed on a re­gu­lar ba­sis, co­ve­ring a spe­ci­fic ju­ris­dic­ti­on or to­pic, and pro­vi­ding ba­sic es­sen­ti­al tech­ni­cal ex­pla­na­ti­ons.
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...
22/02/2022
AFM as­ses­sed qua­li­ty of or­der exe­cu­ti­on on PF­OF tra­ding plat­forms
On Fe­bru­a­ry 9, 2022, the Dut­ch Au­tho­ri­ty for the Fi­nan­ci­al Mar­kets (AFM) pu­blis­hed a sta­te­ment on the im­pact of pay­ment for or­der flow (PF­OF) on the qua­li­ty of or­der exe­cu­ti­on. The AFM per­for­med a stu­dy on the exe­cu­ti­on qua­li­ty of PF­OF tra­ding plat­forms. Ac­cor­ding to the AF­M's ana­ly­sis, PF­OF tra­ding plat­forms struc­tu­ral­ly of­fe­red wor­se exe­cu­ti­on pri­ces for re­tail clients in com­pa­ri­son to other li­quid mar­kets.The sta­te­ment from the AFM fol­lows a warning from ES­MA last sum­mer in which it war­ned firms and in­ves­tors for the risks ari­sing from PF­OF. In PF­OF, a tra­ding plat­form or mar­ket ma­ker pays a fee to a bro­ker to ob­tain the ex­clu­si­ve right to exe­cu­te the or­ders of the bro­ker's clients. Ac­cor­ding to ES­MA, PF­OF in­ap­prop­ri­a­te­ly in­cen­ti­vi­ses in­vest­ment firms to se­lect the par­ty of­fe­ring the hig­hest pay­ment, ra­ther than the par­ty of­fe­ring the best pos­si­ble out­co­me for clients in exe­cu­ting or­ders. AF­M's ana­ly­sisThe AFM exa­mi­ned the qua­li­ty of two PF­OF tra­ding plat­forms and one non-PF­OF tra­ding plat­form. The ini­ti­al re­sults of the AFM ana­ly­sis show that the­se PF­OF tra­ding plat­forms of­fe­red struc­tu­ral­ly wor­se exe­cu­ti­on pri­ces ba­sed on a com­pa­ri­son with ac­tu­al trans­ac­ti­ons of se­ve­r­al other tra­ding plat­forms.The AFM’s ana­ly­sis fo­cu­sed on­ly on Dut­ch sha­res, but it has sha­red the me­tho­do­lo­gy with other re­gu­la­tors in Eu­ro­pe to al­low them to per­form a si­mi­lar ana­ly­sis.AF­M's opi­ni­on: EU-wi­de ban on PF­OF nee­ded­PF­OF is pro­hi­bi­ted in the Ne­ther­lands. The AFM is of the opi­ni­on that PF­OF is an un­desi­ra­ble tra­ding mo­del, as it leads to a lack of cost transpa­ren­cy to­wards in­ves­tors and is con­tra­ry to the prin­ci­ple of open and com­pe­ti­ti­ve mar­kets. The AFM ad­vo­ca­tes an EU-wi­de ban on PF­OF as it en­su­res a le­vel playing field and pre­vents bro­kers es­ta­blis­hed in ano­ther EU mem­ber sta­te to ser­vi­ce Dut­ch in­ves­tors using PF­OF.
01/12/2021
AIFM pas­spor­ting in Ne­ther­lands
1. EEA AIFMs AIFMs who are au­tho­ri­sed in their EEA ho­me Sta­te that has im­ple­men­ted the AIFMD may exer­ci­se pas­sport rights for ma­na­ge­ment and mar­ke­ting of AIFs to pro­fes­si­o­nal in­ves­tors (pro­fes­si­o­ne­le...
01/12/2021
UCITS pas­spor­ting in the Ne­ther­lands
1. EEA UCITS Sche­mes EEA Ma­na­ge­ment Com­pa­nies that are au­tho­ri­sed in their ho­me Mem­ber Sta­te to ma­na­ge an EEA UCITS Sche­me may exer­ci­se pas­spor­ting rights for the mar­ke­ting of units of an EEA UCITS Sche­me...