Investment Management

Montgomery McCracken's Investment Management practice provides legal counsel to investment companies, investment advisers and privately offered pooled investment vehicles as well as related service providers.  Drawing upon lawyers experienced in a variety of specialized areas, the Investment Management practice works with clients ranging from registered investment companies and their independent directors to investment advisory firms seeking assistance with business, regulatory and compliance matters, strategic planning and product development. 

Our professionals are, of course, experienced with matters that affect investment management organizations and arise under the Federal securities laws, including the Investment Company Act of 1940 and the Investment Advisers Act of 1940, as well as state securities and fiduciary law.  Of equal importance, however, we are familiar with the way investment management organizations work, the day to day decisions they face and the speed with which these decisions often need to be made.  This experience allows us to work effectively and on a cost efficient basis on projects ranging from strategic product development to compliance assessment.

Our objective is to assist our clients in making business decisions sustainable in light of evolving regulatory, compliance, governance and fiduciary standards.  With this in mind, we have assisted clients with: 

• Formation, registration and launch of registered investment companies
• Independent legal representation for investment company directors
• General regulatory, corporate and compliance matters, including preparation of compliance policies and procedures
• Complex governance matters, both from a compliance perspective and in the context of disputed transactions
• Transactions involving investment advisory organizations and mutual funds, including mergers, fund "adoptions" and reorganizations
• Representations before the SEC involving exemptive and "no-action" relief, compliance examinations and investigations
• Matters arising under ERISA and applicable tax law
• Preparation of service agreements including investment advisory, distribution, administration and transfer agency agreements
• Development of distribution structures, including wrap-fees, referral fees, compliance with rules limiting the offer and sale of interests in private investment vehicles and multi-class mutual fund structures
• Representations before state regulatory authorities

• Litigation support

The Investment Management practice represents an expansion of Montgomery McCracken's long-standing and well-respected business and corporate practice and a meld of professionals who are experienced in securities, ERISA and taxation, as well as investment management regulation.  The Investment Management practice is also supported by lawyers resident in Montgomery McCracken's Delaware office, who have deep experience in corporate governance matters.  In addition, our group has served investment committees of pension funds and tax-exempt organizations, and in direct fiduciary capacities.  We believe these resources ensure our sensitivity to the issues faced by those - like investment management professionals and, particularly, independent directors - who are subject to fiduciary obligations under applicable federal and state regulation. 

For more information on the Investment Management practice, please contact Laura Anne Corsell, practice chair, at 215-772-7598 email lcorsell@mmwr.com.