Exchange Traded Funds (ETFs)

Simmons & Simmons has authoritative ETF expertise in key European jurisdictions as well as having the leading ETF practice in Asia. Our core team operates in eight jurisdictions and is led by ten partners and three senior associates. Specialist lawyers outside the core team are also involved to provide the full range of legal services required by asset management clients.

With significant experience of advising on the establishment of ETN programmes and obtaining listings on the London, Irish and Italian Stock Exchanges, we have also advised on both physical and synthetic programmes encompassing a range of underlying asset classes, including commodities, equities and fixed income securities.

In Asia, Simmons & Simmons has acted on around 81% (178 out of 221) of the ETFs (including leveraged and inverse products) listed on the SEHK, Asia’s leading ETF exchange, including establishing domestic ETF vehicles and cross listing UCITS and other ETFs employing both physical and synthetic strategies.

Our specialists can advise on:

• structuring funds and choosing the right domicile
• the regulatory authorisation process
• the listing process
• marketing (including the review of multi-jurisdictional websites)
• regulatory and tax issues for ETF managers and the ETFs themselves (including local tax wrappers)
• dual counter, stock connect and Renminbi qualified institutional investor (RQFII) ETFs
• the relevant ETF documentation
• leveraged and inverse products
• all ongoing regulatory obligations imposed on the ETF issuer or its manager.