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, “Market Abuse Regulation,” Eurekahedge (June 21, 2016)
- Quoted, “US firms put fund launches on hold over Ucits pay rules,” Ignites Europe (May 3, 2016)
- Co-author, “United Kingdom,” Getting the Deal Through: Fund Management (April 2016)
- Co-author, “Global Overview,” Getting the Deal Through: Fund Management (April 2016)
- Quoted, “Asset managers delay fund launches amid EU regulation uncertainty,” Money Marketing (March 3, 2016)
- Quoted, “State Street moves €10bn out of France,” Ignites Europe (October 19, 2015)
- 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)
- Quoted, “Firms Gird for Fallout From Europe’s Soft-Dollar Shift,” Ignites Europe (April 7, 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)
- Quoted, “Marketing your private fund in the E.U.? Deadline nears for Form PF-like filing,” IA Watch Weekly Briefing (January 26, 2015)
- Quoted, “Smaller alternative funds complain of European ‘passport’ costs,” Reuters (November 28, 2014)
- Co-author, “EMIR reporting – Further Reporting Obligations Apply in August 2014,” Thomson Reuters’ Derivatives: Financial Products Report (July 2014)
- Quoted, “Ropes & Gray Attorneys Discuss Implications for U.S. Hedge Fund Managers of the European Market Infrastructure Regulation,” The Hedge Fund Law Report (July 18, 2014)
- Co-author, “AIFMD Compliance: What Fund Managers Should Be Doing Now,” Law360 (July 11, 2014)