Financial Services

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Overview

Our Clients

Katten's Financial Services team represents a broad range of financial market participants, including some of the world's most elite financial institutions and alternative investment managers, in regulatory, product structuring and transactional, tax, compliance, cybersecurity, and other matters.

Our attorneys are actively engaged in advising commercial and investment banks, broker-dealers, futures commission merchants, investment advisers, alternative investment managers, finance companies, futures and securities exchanges, commodity trading advisors, commodity pool operators, proprietary trading firms, pension funds, family offices, sovereign wealth funds, and insurance companies. We also represent all manner of registered and alternative investment vehicles, including mutual funds, closed-end funds, exchange-traded vehicles and business development companies, liquid alternative funds, hedge funds, funds of funds, venture capital funds, private equity funds, commodity pools, securitization vehicles, and bank collective investment funds.

Our Services

Katten's comprehensive financial services representation draws on the unparalleled depth of knowledge and practical, real-world experience of its attorneys in securities, futures, banking and alternative investment management. Several of our attorneys previously held senior positions with regulatory agencies, including the Securities and Exchange Commission (SEC), the Commodity Futures Trading Commission (CFTC) and the Department of Justice (DOJ), or served as in-house counsel at financial services firms. With this breadth of experience, we often recognize and resolve issues that other firms cannot.

We assist in structuring, negotiating and documenting loans and traditional financial products as well as structured investments and the full range of exchange-traded and over-the-counter (OTC) derivatives transactions. Our attorneys guide clients through all aspects of regulatory compliance and provide representation in investigations and enforcement actions brought by the SEC, DOJ, CFTC, FINRA, the Federal Reserve Board, the Office of the Comptroller of the Currency, the Consumer Financial Protection Bureau, state regulators, and securities and futures exchanges. In addition, we counsel both first-time and well-established sponsors in the formation of funds in a variety of sectors of the fund industry, including hedge funds, venture funds, private equity funds, liquid alternative funds, leveraged buyout (LBO) funds, mezzanine funds, real estate funds, commodity and futures funds, industry-specific funds, and funds of funds. We also work closely with our clients' legal, operational and technical teams on the whole range of information technology projects, software-as-service and cloud hosting relationships, privacy and data security planning, and data breach responses. Due to the unique combination of regulatory and transactional experience Katten offers, our attorneys are trusted advisors to their clients on a wide variety of legal matters.

We work closely with Katten's Trusts and Estates practice to provide sophisticated, cutting-edge estate planning specifically tailored to the particular issues faced by fund managers, such as using derivatives contracts to transfer the economic benefits of carried interests as well as planning for discounting and unified family asset management through the creation of family limited partnerships and limited liability companies.

Our attorneys counsel asset managers, hedge funds, private equity funds, REITs and family offices on a variety of employment and compensation matters. We assist our clients with every aspect of executive employment matters, including negotiating employment agreements, severance agreements, change-in-control agreements, indemnification agreements, deferred compensation arrangements and long-term incentive plans, and advising on retention issues arising out of mergers and acquisitions and restructurings. For hedge fund and private equity managers, we structure employment agreement relationships with their portfolio managers, executives and senior employees.

We service our financial services clients from an international platform, offering seamless global coverage. Katten's London office works closely with our US offices to provide advice to a broad spectrum of domestic and international financial institutions, fund managers, trading advisors, banks, brokerages, and proprietary trading firms in all aspects of exchange-traded and OTC commodities, securities and derivatives transactions, and EU regulatory matters.

We provide creative, strategic representation while being responsive to our clients' practical and economic needs. Our approach ensures that clients receive the full benefit of our regulatory, product, transaction, tax, employee benefits, employment and compensation, trusts and estates, and litigation experience and that our partnership service model yields long-term relationships.

Experience
  • Representation of two affiliated investment advisers in forming a renowned international asset management firm.
  • Representation of a privately held alternative investment management firm based in the United States in consolidating with an unaffiliated global investment management firm with offices in Paris, New York, London, Zurich and Geneva.
  • Representation of an independent asset manager in setting up a hedge fund structure dealing in bank loans for the use of a Japanese institutional investor who required daily liquidity and net asset value (NAV) transparency.
  • Representation of a hedge fund manager—with more than $6 billion of assets under management in the United States and globally—in a myriad of transactions designed to maximize its potential to pursue opportunities in the broadest investment universe in a tax-efficient manner.
  • Representation of one of the largest and most successful hedge fund managers in the United States in the creation of a family of funds designed to permit our client's related retirement plan investors to invest exclusively in our client's investment products on a "fee-free" basis pursuant to a Prohibited Transaction Exemption issued by the US Department of Labor.
  • Representation of a leading global private equity firm and investment management company—with offices in, among other locations, New York, London, Dubai, Asia, Italy and Spain—and related investment funds with respect to the structuring of its "funds-of-one" (Global Market Strategies Feeder Funds) as part of its new hedge fund investment management business, including the ongoing representation of our client and the Global Market Strategies Feeder Funds.
  • Representation of an independent asset manager's hedge fund complex and global investment management business in connection with existing funds and structuring and forming new products.
  • Ongoing representation of a global investment management company.
  • Representation of a global investment management company—with offices in London, New York and the Cayman Islands—with respect to structuring its international investment management business, including the ongoing establishment of a group of complex hedge funds.
  • Representation of a hedge fund manager with more than $300 million in assets under management in the United States and globally in establishing a "fund-of-one" investment vehicle for the exclusive investment by a large fund-of-funds platform for its ERISA investors.
  • Representation of a privately held financial institution in connection with structuring and forming new hedge fund products as well as representing existing hedge funds.
  • Representation of an SEC-registered investment adviser in a two-step reorganization.
Professionals
Firm News
Articles
December 2015
November 4, 2015
Advisories
November 24, 2015
July 9, 2012
A Shorthand Method for Proving That a US Entity Is Not a Major Swap Participant or Major
January 11, 2010 (updated June 2010)
October 26, 2009
September 19, 2008
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December 22, 2014
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November 24, 2014
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October 27, 2014
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Events
March 17, 2017 - New Date
January 23, 2017
Hedge Fund Tax 101 | New York, New York
December 7, 2016
MidOcean IDF Seminar | New York, New York
November 16–17, 2016
November 16, 2016
November 15, 2016
Women in Compliance | New York, New York
November 10, 2016