Lora Froud

Macfarlanes

Lora advises clients on the structuring and operation of onshore and offshore investment funds, both regulated and unregulated, and also advises on all legal aspects of asset management. She specialises in regulated funds. Her clients include operators, asset managers, depositaries and custodians of investment funds. She regularly assists clients with related EU and UK regulatory and compliance matters. She has particular experience in advising on the UCITS regime, the Retail Distribution Review, the Alternative Investment Fund Managers Directive, MiFID and PRIIPs.

Lora is an active participant in Investment Association initiatives and is currently advising the FCA and IA on the proposed Long Term Asset Fund. She is also on the Alternative Investment Management Association working groups in relation to UCITS, AIFMD and Liquid Alternatives and is on the IBA’s Investment Funds Committee.

Lora is ranked as a leading individual in the retail funds space by a leading legal directory, The UK Legal 500, and is listed in The Lawyer’s Hot 100 2020.

Contributed to

2

Qualified investor schemes (QIS)

Practice Notes

This Practice Note explores the key aspects of qualified investor schemes (QIS), a UK-authorised fund regime which sits alongside the UK undertakings for collective investment in transferable securities (UCITS), non-UCITS retail schemes (NURS) and long-term asset fund (LTAF) regimes. It discusses investment powers, eligible criteria, and potential tax implications.

Financial Services

Unregulated collective investment schemes—essentials

Practice Notes

This Practice Note examines the key regulatory considerations relating to unregulated collective investment schemes (UCIS) in the UK. It discusses what UCIS are, the risks they pose, the UCIS regulatory framework, restrictions on how UCIS are treated and their relationship with the UK alternative investment fund managers (AIFM) regime.

Financial Services