We focus on the financial services industry and advise many financial services firms in relation to their regulatory requirements, in particular as to their FCA authorisation requirements and compliance with the FCA COBS rules. This can range from financial promotion rules to the terms of engagement of customers and their sign-on procedures.
We specialise in setting up funds, working with fund managers and our tax consultants to create the most suitable structure, whether on-shore or off-shore. We will advise on jurisdictions and prepare documentations. We act for a variety of AIF managers where investments have included real estate, debt and equity. We have dealt with limited partnership structures, closed and open-ended funds, unregulated investment schemes as well as EIS funds.
Examples of work which we have undertaken in this area include:
Regulatory advisory work
- Financial Promotions – Advising a fund manager on the issue of financial promotions for an unregulated collective investment scheme in the UK and ensuring compliance with COBS rules and the Financial Promotions Regulations.
- Short Selling – Advising a financial services institution on their responsibilities under recent short-selling regulations.
- Crowd-funding – Advising an overseas firm on the operation of their crowdfunding website in the UK.
- AIFM Directive – Advising an overseas alternative investment fund manager on its reporting requirements in the UK.
- Limited Partnership Jersey Property Fund – Providing a Canadian pension fund legal and tax advice in respect of its investment in a private equity property fund. This was structured for tax efficiency as an investment in a number of parallel limited partnership vehicles acquiring units in a number of Jersey property unit trusts that held UK property. Our client invested £100 million of what was targeted as a £400 million fund.
- Limited Partnership Property Fund – Advising a UK-based client in structuring and setting up a limited partnership structure with initial loan commitments of £20 million. Acting for the fund in its acquisition of a 50% interest in a €200 million tax structured investment in mainland European commercial property.
- Commercial Property Fund – Acting in the setting up of a £30 million fund for a leading institutional investor in relation to a series of limited partnerships to acquire commercial property in the UK, structured to minimise tax on the income and capital gains.
- Debt Finance Fund – We advised on the structuring and documentation for this limited partnership bridge finance fund, seeking £20 million from professional and high-net-worth investors to provide debt finance secured on UK property.
Edwin Coe LLP combines solid knowledge with a practical approach.
Legal 500 2011
A go-to firm that is accessible and cares for the client.
Legal 500 2010
Funds and Financial Services Team
Corporate & Commercial, Head of French Inward Investment
Corporate & Commercial