Sullivan & Worcester LLP has extensive experience advising independent directors and trustees of investment management firms, with the establishment and registering of new funds, including but not limited to exchange traded funds, variable retail and insurance open- and closed ended funds. The investment management team are also frequently engaged as fund counsel in relation to compliance and shareholder matters and board advice. David Leahy and David Mahaffey jointly lead the practice from the firm's Washington DC location, with the former advising clients on the Investment Company Act of 1940, the Investment Advisers Act of 1940, the Securities Act of 1933 and the Securities Exchange Act of 1934, while the latter specializes on federal securities law, for a whole host of registered funds clients. Nicole Crum is another key name in Washington DC and works with boards and board committees on staying compliant with SEC regulations and through government and internal investigations, while John Chilton is well versed in registered fund transactions, and Domenick Pugliese counsels independent directors of mutual funds, ETFs and variable annuity trusts. Rachael Schwartz was promoted to partner in January 2023.
Testimonials
Collated independently by Legal 500 research team.
‘Experience in 1940 Act registered funds. Experience in working with independent trustees. Experience in practicing before the SEC. Collaborative style and exceptional people including diversity.’
‘The attorneys we deal with are very knowledgeable and experienced. They listen carefully and provide solid and practical advice.’
‘David Mahaffey - David is very experienced in this area. He is responsive, timely and helps us seek practical solutions to issues.’
Key clients
- Independent Trustees of the John Hancock Funds, including John Hancock Variable Insurance Trust, John Hancock Funds II, John Hancock Funds III and John Hancock Closed-End Funds.
- Manulife/John Hancock Funds: Hancock GA Mortgage Trust, John Hancock Senior Loan Trust, John Hancock Asset-Based Lending Fund, Manulife Private Credit Fund, Manulife Private Client Credit Plus Fund
- Independent Trustees of the Pacific Select Fund and Pacific Funds Series Trust
- Independent Directors of the Legg Mason Closed-End Funds
- Independent Trustees of the Virtus Mutual Funds and Virtus Variable Insurance Trust
- Corebridge VALIC Retirement Funds and their Independent Directors
- Pear Tree Funds and their Independent Trustees
- Independent Trustees of the Matthews Asia Funds
- Advisors Series Trust and their Independent Trustees
- Professional Managed Portfolios and their Independent Trustees
- Ultimus Managers Trust and its Independent Trustees
- Tidal ETF Trust II and its Independent Trustees
Lawyers
Practice head
The lawyer(s) leading their teams.
David Leahy, David Mahaffey