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Investment Management Law and Practice

Investment Management Law and Practice

Author: Timothy Spangler
Publisher: Oxford University Press
ISBN: 9780199582501
Published In: January 2010
Format: Hardback
Jurisdiction: U.K. ? Disclaimer:
Countri(es) stated herein are used as reference only

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Covers the legal and regulatory position in the UK and US, the two leading international centres for investment management practice
Unique coverage of practical and legal issues specific to each client sector, such as mutual and authorised funds and occupational pension schemes
Handpicked team of practitioners from the UK and US and edited by a dual New York/English qualified lawyer
Includes coverage of mutual funds, close-ended listed funds, authorised funds, occupational and local government pension schemes, charities and endowment funds, sovereign wealth funds, private equity funds, hedge funds and with-profit funds

Edited by Timothy Spangler, a New York qualified lawyer and English solicitor experienced in both jurisdictions, this book gives an invaluable overview of the processes and legal and regulatory issues relating to investment management in the UK and US. This approach gives useful guidance for individuals choosing between having a fund manager in the US or the UK and also provides a helpful outline for lawyers unfamiliar with one or both of the jurisdictions.
The book adopts a three part structure. The first part examines the legal principles underlying investment management and the regulatory position in both the UK and the US giving a useful overview of these jurisdictions. It provides practical guidance on the tort aspects of practice in this area, looking at the common law relating to standard of care, contractual duty and fiduciary duty. The second part addresses topics of particular relevance to investment management law, such as derivatives, soft commission and market abuse giving guidance on these specialist areas. The third part focuses on pertinent issues relevant to each client sector to provide a practical research tool for advising different categories of client.
This work gives valuable information on the regulatory changes and market activity in this increasingly complex practice area providing useful guidance on market developments.

Readership: UK and US lawyers in private practice and in-house counsel specialising in funds and financial services; advisers of investment managers at investment banks and financial institutions; leading accountancy firms based in the UK and US; compliance officers in investment banks; international lawyers advising on business conducted under UK or US registered investments within the financial centres of Europe and Asia.

I: Legal and Regulatory Framework

1: Introduction

2: The Legal Basis of Investment Management

3: Regulation of Investment Managers - United Kingdom

4: Regulation of Investment Managers - United States

5: Standard of Care

6: Contractual Duties

7: Fiduciary Duties

II: Key Topics

8: Advertising and Marketing

9: Proxy Voting

10: Best Execution

11: Soft Commission

12: Data Protection and Privacy

13: Market Abuse and Insider Dealing

14: Derivatives

15: Stakebuilding and Ownership Disclosure

16: Taxation

17: Outsourcing

18: Industry Best Practice and Guidelines

III: Clients

19: US Mutual Funds

20: UK and European Closed-Ended Listed Funds

21: UK Authorised Funds

22: Erisa Plans

23: Occupational Pension Schemes

24: Local Government Pension Schemes

25: UK Charities

26: High Net Worth Individuals

27: Sovereign Wealth Funds

28: Hedge Funds

29: US Charities and Endowments

30: With Profit-Funds

Edited by Timothy Spangler, Partner and Chair of the Investment Funds Group, Kaye Scholer LLP

Contributors:

Bruce Gripton, Eversheds LLP
Carolyn Jackson, Allen & Overy LLP
Christopher Hilditch, Schulte Roth & Zabel LLP
Christopher Whiteley, Ashurst LLP
Dale Gabbert, Reed Smith LLP
Daniel Lewin, Kaye Scholer LLP
David Bickley, Eversheds LLP
David Porteous, Levenfeld Pearlstein LLC
David Westmoreland, Eversheds LLP
Deborah Birnbach, Goodwin Proctor LLP
Dyke M. Arboneaux, Bryan Cave LLP
Eleazer Klein, Schulte Roth & Zabel LLP
Elizabeth Budd, Speechly Bircham LLP
Gordon Brough, Aberdeen Asset Management PLC
James Cripps, Slaughter and May
Jan Putnis, Slaughter and May
Jane Finlayson-Brown, Allen & Overy LLP
Janis Kerns, ACA Insight
Jay Baris, Kramer Levin LLP
Jeffrey London, Kaye Scholer LLP
John Hanratty, Pinsent Masons
John Loder, Ropes & Gray LLP
John Virgo, Guidhall Chambers
Jonathan Kropman, Berwin Leighton Paisner LLP
Judith Donnelly, Barrister
Julian Blake, Bates Wells & Braithwaite London LLP
Kenneth Mason, Kaye Scholer LLP
Lucy Wylde, Slaughter and May
Marc Elovitz, Schulte Roth & Zabel LLP
Marco E. Adelfio, Goodwin Procter LLP
Marilyn McKeever, Berwin Leighton Paisner LLP
Matthew Allen, Eversheds LLP
Melanie Wayne, Kaye Scholer LLP
Michaela Walker, Eversheds LLP
Michele McKinnon, McGuireWoods LLP
Monica Parry, Morgan Lewis & Bockius LLP
Nigel Farr, Herbert Smith LLP
Owen Watkins, Kaye Scholer LLP
Pamela Thompson, Eversheds LLP
Patrick Brandt, Dundas & Wilson LLP
Randall Stempler, Kaye Scholer LLP
Richard Stones, Lovells LLP
Simon Firth, Kaye Scholer LLP
Stella Cramer, Allen & Overy LLP
Timothy Spangler, Kaye Scholer LLP
Tom Harman, Morgan Lewis & Bockius LLP
Victoria Younghusband, SJ Berwin LLP
William Saunders, Stephenson Harwood
William Tanenbaum, Kaye Scholar LLP
Willys Schneider, Kaye Scholer LLP

"An absolutely fabulous book. This is, without a doubt, the best work in this important area that I have ever read. Every practitioner should read it. It covers all of the most difficult areas of law and contract that a practitioner faces on a daily basis in a concise, complete and referenced form with a thoughtful analysis of the issues in the two most important jurisdictions. It imparts wisdom and pragmatic assistance. I will keep it as my favourite, handy reference" - Philip Harris of Skadden, Arps, Slate, Meagher & Flom LLP