Claire Cummings qualified as a solicitor in 1996 and since then has specialised in the legal issues surrounding both funds and fund management.
As a solicitor in private practice, Claire has acted for a number of clients in the alternative investment arena and built up experience of a wide range of legal and regulatory matters. Claire has acted as in-house counsel and director of legal and compliance for a fund manager, where she was involved in the running and growth of a fund management business and worked closely with other directors, the trading and operations departments and brokerage counterparties.
In July 2002 Claire established Cummings and draws on her experience as both a lawyer and a director of a fund management company to work with her clients as they establish and build their businesses.
UCITSindex.com: Ms. Cummings, why don’t we start at the beginning: Could you as an expert explain our readers briefly what the UCITS Directive is?
Claire Cummings: Starting with a legislative answer, the Undertakings for Collective Investment in Transferable Securities (UCITS) Directives are a set of EU Directives that aim to allow collective investment schemes to operate freely throughout the EU on the basis of a single authorisation from one member state. In practice, many EU Member States have imposed additional regulatory requirements which has impacted the ability to operate freely. Read More