Registered Investment Companies

Our lawyers are among the profession’s most experienced in advising managed investment companies (both open-end and closed-end funds), business development companies and their advisers, underwriters and directors.

Among the types of matters on which we regularly work are the design and initial offering of innovative new products, filings with regulatory agencies, internal compliance programs, applications for exemptions and no-action letters, and advice to boards of funds concerning their oversight responsibilities for fund compliance with the Investment Company Act and other regulatory regimes. Our broad experience includes, in addition to traditional mutual funds, advising on registered funds that invest in hedge funds and exchange traded funds. We were also a pioneer in the development of unit investment trusts.

Recognition

  • Chambers USA – Clients note: “The investment management practice is part of a firm with tremendous resources on the regulatory front, which is a great feature of working with them.” 

  • Legal 500 – “With a practice that spans a broad cross-section of investment vehicles, including mutual funds and closed-end funds, as well as BDCs, Davis Polk develops and assists with the initial offering of innovative products, formulates compliance procedures and deals with SEC applications for exemptive relief and no-action letters, and advises fund boards on their oversight duties, among other matters.”