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Regulated funds

Our regulated funds specialist lawyers provide market leading advice and guidance helping clients to launch, manage, distribute and invest in FCA regulated funds.

City of London Gherkin close-up with Shard in background

Our market-leading, UK-wide regulated funds group represents all corners of the market, including some of the UK’s largest retail investment fund managers, distributors and investors (including LGPS funds).

Our expertise spans the formation and regulation of retail fund structures, the development of innovative investment services and products, and compliance with complex regulatory requirements.

We offer comprehensive, commercially focused and solutions-driven advice and take a proactive, adaptive approach suited to our clients. Working closely with industry associations and maintaining strong relationships with regulatory bodies such as the FCA enables our team to maintain extensive industry insight and take a practical and commercial approach to regulatory compliance and change.

Many of our lawyers have direct in-house experience or have completed secondments to financial institutions, bringing valuable firsthand industry experience to our practice as well as a practical understanding of our clients’ needs. Additionally, our established international network allows us to have a global reach across multiple jurisdictions, which ensures a seamless service for our clients with global operations. This, coupled with our expertise and breadth of experience, positions us as leading trusted advisors to clients operating in the regulated funds and asset management sectors.

Examples of our work

Fund launches and changes

Regularly provide legal and regulatory support on fund launches, changes, and terminations, advising on the formation and regulation of FCA-regulated fund structures like UK UCITS, NURS, QIS and LTAFs across OEICs, AUTs and ACSs.

Retail fund managers

Advised a number of retail fund manager clients on the FCA’s Sustainable Disclosure Requirements including navigating the FCA application process both for funds seeking to adopt a Sustainability Label as well as those seeking to operate on an unlabelled basis. This has included advising on one of the first applications resulting in the successful adoption of an SDR Sustainability Label.

Pension pools

Advised one of the largest pension pools in the UK, managing around £64 billion in assets on launching the first LGPS real estate ACS with multiple sub-funds.

Sponsorship arrangements

Advised a Host ACD client on the template sponsorship and other legal agreements for its entire UK regulated fund range, including Long-Term Asset Funds (LTAFs).

Consumer Duty

Advised a number of clients on implementing the Consumer Duty including running workshops for a fund manager client advising key business functions on the expectations and requirements of the Duty.

Cross-border master-feeder structure

Advised a Host ACD client on all aspects of the launch of a new cross-border master-feeder structure where the master fund was an Irish-domiciled UCITS fund and the feeder fund was a UK-domiciled UCITS fund.

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What others say

“The breadth and experience of the team mean that they are able to support the entire range of matters that typically arise.”

Chambers UK 2024

“Burges Salmon are able to undertake detailed complex legal analysis and distil that into condensed plain English text. The team has a good mix of legal expertise and a broad range of experience, including in-house compliance experience.”

Chambers UK 2024

“The strongest element is the team's commercial awareness and ability to contextualise and provide advice that is based on practical realities, rather than black letter law or academic opinions.”

Chambers UK 2024

“We are fortunate to have worked with various members of the Burges Salmon team, all of whom have proven to be knowledgeable and efficient.”

Chambers UK 2024

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