Michelle Moran is an investment management partner in Ropes & Gray’s London office.
Michelle focuses on advising European and U.S. clients on the establishment, authorisation and management of all types of retail and institutional investment funds domiciled in the UK, Ireland, Luxembourg and Jersey including UCITS, ICVCs, investment trusts, hedge funds, real estate funds and segregated institutional portfolios. She has experience advising on a wide variety of transactions relating to investment managers, brokers, custodians, fund service providers and operating platforms. She has advised a number of financial institutions on sensitive regulatory issues involving numerous regulators in both non-contentious and contentious matters.
Michelle has participated on EU Commission Working Groups responsible for putting together proposals for change to UCITS legislation playing a leading role in the introduction of the Key Investor Information Document as part of the suite of UCITS IV reforms.
She was a Panel Member of the Expert Liaison Group and the Investment Bank Advisory Panel both formed by HM Treasury to advise on desired policy and legislative change prompted by the financial crisis. These groups focused principally on the drafting of the Banking Act 2009, related secondary legislation and client asset law and regulation. Michelle was appointed an Officer of the International Bar Association’s Investment Funds Committee in January 2015.
- Advising Pacific Management Company on a range of AIFMD, UCITS and related matters
- Advising Providence Equity – Benefit Street Partners on their UCITS fund range and related UK regulatory issues
- Advising 3i on EU distribution related issues
- Advising Cenkos Securities plc, a leading specialist securities firm, on related UK regulatory obligations
- Advising a global investment bank and financial services corporation on a range of AIFMD related matters
Notable transactions in which Michelle has been involved prior to joining the firm include:
- Advising large sovereign wealth institutions and pension funds on high value and complex cross border segregated mandates and investments in regulated European retail and institutional funds
- Advising promoters, funds and service providers on the impact of MiFID, UCITS IV and AIFMD with particular focus on challenging areas such as cross border mergers and remuneration
- Advising buy side and sell side regulated financial institutions on UK and Irish regulatory issues which has included detailed examinations of practices and procedures and managing regulatory relationships with the Financial Conduct Authority, the UK Listing Authority, AIM, the Takeover Panel, the Central Bank of Ireland and other regulators around the world
- Co-author, “Looking At The EU Market Abuse Regulation 1 Year Later,” Law360 (July 13, 2017)
- Quoted, “One year on: How the EU’s MAR is changing activist hedge funds,” HFMWeek (June 27, 2017)
- Contributing editor, Getting the Deal Through: Fund Management (April 2017)
- Co-author, “Global Overview,” Getting the Deal Through: Fund Management (April 2017, 2016, 2015)
- Co-author, “United Kingdom,” Getting the Deal Through: Fund Management (April 2017, 2016, 2015)
- Co-author, “The AIFMD Third Country Passport - An Update,” Eurekahedge (September 1, 2016)
- Co-author, “Market Abuse Regulation,” Eurekahedge (June 21, 2016)
- Co-author, “United Kingdom,” Getting the Deal Through: Fund Management (April 2015)
- Co-author, “Global,” Getting the Deal Through: Fund Management (April 2015)
- Co-editor, Getting the Deal Through: Fund Management (April 2015)
- Authored, “AIFMD offers passport to European markets,” FT Investment Adviser (March 30, 2015)
- Co-author, “AIFMD Regulatory Reporting,” Financier Worldwide’s 2015 EBook Risk: Governance & Compliance for Financial Institutions (March 2015)
- Co-authored, “The Long View: UCITS V requires that a portion of variable remuneration is paid in kind,” HFM Week (February 11, 2015)
- Co-author, “EMIR reporting – Further Reporting Obligations Apply in August 2014,” Thomson Reuters’ Derivatives: Financial Products Report (July 2014)
- Co-author, “AIFMD Compliance: What Fund Managers Should Be Doing Now,” Law360 (July 11, 2014)
- Michelle is regularly quoted in industry and national press including for Reuters, The Hedge Fund Law Report, Money Marketing, Ignites Europe and IA Watch Weekly Briefing.
- Panellist, “MiFID,” Institutional Investor Legal Forum Spring Roundtable Brussels (May 10, 2017)
- Chair, “Challenges and opportunities for UCIT market participants,” Euromoney The 6th UCITS Conferences 2016 (May 26, 2016)
- Chair, 5th UCITS Conference 2015, Euromoney Legal Forum (May 20-21, 2015)
- Panellist, “Counting the cost of the Alternative Investment Fund Managers Directive,” FT Live – Regulation in Asset Management (March 24, 2015)
- Chair, 7th Alternative Investment Fund Regulation conference, Euromoney Legal Forum (February 24-25, 2015)
- Moderator, “Remuneration,” The 4th Annual Malta Fund Conference AIFMD One Year After (September 18-19, 2014)