Registered Funds | USA

Dechert is one of the market leaders for registered fund expertise, aiding the most high-profile asset managers and expansive fund complexes, alongside small to mid-sized entities, in fund formation, transactions, regulatory compliance and litigation. The firm demonstrates familiarity with a diverse array of fund structures. It is noted for its considerable strength in all matters relating to exchange-traded funds.

Ropes & Gray boasts a hugely respected ’40 Act practice fluent in all types of registered funds, from ETFs to proprietary and master-feeder funds. The firm handles the full range of matters, including fund formation and operation, regulatory compliance and tax matters, and is additionally uniquely placed to advise on hedge funds and private equity funds.

Stradley Ronon maintains an impressive client list of fund complexes, fund managers and independent trustees, who benefit from the firm's skill, industry integration and nationwide presence when developing new products or approaching other registered fund concerns. It handles a wide range of open and closed-end funds and is particularly noted for its strength in the ETF space.

Morgan, Lewis & Bockius offers expertise across all aspects of the registered fund space, including ETFs, money market vehicles and mutual fund complexes. The firm avises in connection with ’40 Act matters and the full range of state and federal regulatory matters. It is noted for its ability to handle the international aspects of investments, working with experts in the firm's offices globally.

Simpson Thacher is a well-known investment funds law firm that assists clients with significant ETF, BDC, and open- and closed-end fund matters. The firm is valued for its knowledge of M&A matters involving registered funds.

Vedder represents open- and closed-end funds across an array of regulatory, transactional and compliance issues. The firm typically advises on matters relating to derivatives and structured products, CFTC procedures, and tax and ERISA affairs. It is notable for its strength in the area of mutual funds and ETFs.

Willkie Farr & Gallagher counsels leading registered funds, as well as their advisers and independent directors, in connection with the full range of ’40 Act matters. The firm covers the whole spectrum, from organization and registration to offerings. It has particular strength in connection with alternative investments, closed-end funds, ETFs and BDCs.

Eversheds Sutherland's registered funds practice is noted for its capabilities in the registered insurance product and BDC spaces, along with key aptitudes in structuring and maintaining ETFs, closed-end vehicles and mutual funds, both in the USA and internationally. The firm regularly advises on the structuring and management of investment products in the retail, high net worth and retirement markets.

Faegre Drinker offers solid registered funds support to clients. The firm boasts strength in handling issues relating to mutual funds and ETFs. Areas of expertise include fund formation, restructuring and regulatory compliance and enforcement. It has additional noted strength in the alternative investment space, including investments in alternative instruments by closed-end funds. It is aknowledged for its experience dealing with the SEC in obtaining exemptive and no-action relief.

Paul Hastings is notable for its registered funds prowess, especially within the niche area of unit investment trusts. The firm draws upon corporate and capital markets resources relevant to fund transactions such as M&A and spinouts. It serves an impressive stable of clients ranging from investment advisers to fund administrators. Strengths include mutual funds, closed-end funds and ETFs.

Sidley Austin continues to play an important role in the market, offering expertise in connection with the development and governance of a broad range of fund structures including fixed income funds, alternative investment funds and money market funds. The firm often acts as underwriters' counsel, drawing on recognized strength in the capital markets space. It has particular strength in matters related to closed-end funds and ETFs.

Blank Rome's registered fund practice is recognised for its broad ranging expertise. The team guides clients though complex alternative investment strategies, including ETFs and interval funds. The law firm also excels in representing independent board members and business development companies.

Clifford Chance is noted for its ability to handle a range of issues in the space, including the operation, formation and launches of BDCs and ETFs. Its practitioners have further experience providing counsel on matters relating to registered closed-end funds. The group also has experience assisting clients with complex regulatory issues.

Davis Polk & Wardwell has a respected team that assists clients across the registered funds space, including handling regulatory concerns. The firm is noted for its particular strength in ETFs and mutual funds. It boasts substantial experience handling significant transactions, such as structuring transactions.

Goodwin represents a respectable roster of traditional mutual funds, sub-advised entities and funding vehicles for insurance products, with an invaluable proficiency in tackling the securities and regulatory issues facing bank-sponsored mutual fund complexes. The firm handles long-term governance matters in addition to large-scale restructuring. It is distinguished in its ability to handle industry-specific litigation, enforcement and investigations.

Kilpatrick Townsend & Stockton is noted for its expertise in ETF launches, fund formation and regulatory compliance.

Morrison Foerster is adept in its representation of registered funds. The law firm garners recognition for its expertise across the '40 Act, including ETFs and SEC regulatory advice. The team also guides clients through cross-border matters.

Proskauer Rose is noted for its representation of registered funds and their independent board members in connection with a range of regulatory matters, including investigations and enforcement actions. The firm has recognized strength in the BDC space. It is commended for its expert knowledge of open and closed-end funds.

Seward & Kissel LLP is sought after for its ETF expertise. The firm advises on the registration and launch of funds in addition to regulatory compliance issues.

Skadden acts for a broad cross-section of parties in the registered fund arena in relation to product structuring. The firm provides crucial regulatory guidance concerning international stock markets and authorities. it has particular strength in the BDC and closed-end fund spaces and assists with a range of governance and transactional matters.

Sullivan & Cromwell counsels registered funds, advisers and independent directors on a wide range of concerns. The firm draws upon familiarity with the financial services sector to provide invaluable guidance on regulatory enforcement and compliance. It advises clients in the open- and closed-end fund space, including BDCs.

Sullivan & Worcester boasts a distinguished registered funds group that handles mutual funds, closed-end funds and ETFs. The firm is particularly well regarded for its strength in independent trustee representation.