Michael has a broad financial services regulatory practice, advising financial markets participants on all aspects of law and regulation affecting their business and their products. He has particular expertise in advising both EU and non-EU private equity and alternative asset managers on:
- their implementation of the second EU Markets in Financial Instruments Directive ("MiFID II"); the new EU Market Abuse Regulation ("EU MAR"); and the EU Securities Financing Transactions Regulation ("SFTR");
- compliance and structural implications of European regulatory capital and securitisation risk retention rules;
- all aspects of compliance with the Alternative Investment Fund Managers Directive (“AIFMD”), in particular in relation to regulatory consent and notifications relevant in the context of raising new funds; ongoing compliance obligations for funds and their alternative investment fund managers; financial promotion and securities marketing issues; periodic reporting; and the negotiation of depositary agreements;
- compliance issues arising under the EU Short Selling Regulation;
- licensing and perimeter issues in the context of the UK regulatory system; and
- the PRA and FCA change-in-control regime
Michael has also been involved in mergers and acquisition, restructuring (including business transfer schemes under Part VII of the UK Financial Services and Markets Act) and equity capital market transactions in the financial services sector, involving banks, insurers, managers of both private and regulated funds and insurance and mortgage intermediaries.