Structured Products and Index Solutions Coverage Lawyer

at  Morgan Stanley

Structured Products and Index Solutions Coverage Lawyer
Job Number:

3256081
POSTING DATE: Jul 23, 2024
PRIMARY LOCATION: Europe, Middle East, Africa-United Kingdom-United Kingdom-London
EDUCATION LEVEL: Bachelor’s Degree
JOB: Attorney
EMPLOYMENT TYPE: Full Time
JOB LEVEL: Vice President

DESCRIPTION

There is a position within the Morgan Stanley EMEA Legal Division for a qualified lawyer to provide legal coverage to the Structured Products and Index Solutions businesses within the Institutional Equity Division (IED) of Morgan Stanley. The Structured Products business covers the issuance of structured notes, warrants, certificates and exchange traded products to b retail and institutional clients. The Quantitative Investment Strategies business develops and creates bespoke proprietary indices and strategies for clients. While the role focuses on coverage of the EMEA Equities Division, there will be frequent touch points with traditional fixed income asset classes, such as interest rates, currencies, and commodities.
The role will require coverage of a Sales force based across the EMEA region, with public offers and private placements into the UK, Italy, France, Switzerland, Spain, Germany, Benelux, the Nordics, and UAE amongst others, and will require frequent interaction with colleagues in the Compliance and Business Control Unit divisions as well as Sales, Trading and Financial Engineering.
The role is primarily an advisory role (and not a documentation role, which is covered separately by the Transaction Management Group in IED). The role sits in the EMEA Equities Legal team and will report to the head of EMEA Equities Legal, an MD. The successful candidate will be assisted by a consultant lawyer in London and will work closely with other structured products coverage lawyers in Frankfurt and Paris, and interact regularly with product coverage lawyers in Asia and the US.

Primary Responsibilities:

• Advising different functions within the Firm, including Sales, Trading, Transaction Management (documentation) and Business Control Unit on legal and regulatory risks associated with structured products transactions (including exchange traded products), repackaging transactions and proprietary index and strategy solutions, with particular attention to retail transactions.
• Advising on product governance and regulatory and reputational issues, drafting appropriate disclosures and identifying other possible solutions to mitigate risks.
• Advising on new and existing EU and UK regulations, including disclosure regulations (such as Prospectus Regulations, PRIIPS and other local public offer rules), Benchmark Regulation, ESG, Consumer Duty, and product governance regulations more broadly.
• Negotiating distribution agreements (either directly or with the support of third party vendors) and other commercial arrangements, including platform agreements, fee letters and liquidity arrangements.
• In conjunction with external counsel, reviewing and advising on offering documentation (prospectus, final terms, term sheets), KIIDs and marketing materials.
• In conjunction with external counsel, reviewing MS proprietary index methodologies and advising on appropriate retail disclosures for the QIS business.
• Participating in the Firm’s regular engagement with industry roundtables and consultations.

QUALIFICATIONS

Skills required:

• Previous relevant experience in a major law firm and/or in-house at a sell-side or buy-side financial institution.
• Strong regulatory background, with an ability to assimilate, interpret and present with clarity on developing regulations.
• Professional maturity, confidence, presence, and initiative.
• Ability to work in a team across multiple functional areas and jurisdictions.
• Good judgment and practical outlook in the application of law.
• Fluent English and strong written and verbal communication skills.
• Aptitude for risk and controls.
• English law qualified (other jurisdictions may be considered).

Areas of expertise in a combination (but not necessarily all) of the following areas are desirable:

• A strong working knowledge of securities laws in the UK and EMEA, in particular with respect to prospectus and retail investment regulations.
• A good knowledge of product governance issues, ideally with experience of retail structured products transactions.
• Prior experience of proprietary indices documentation and regulation.

Where will you be working?
This role is based in 20 Bank Street, London.
Flexible work statement:
Interested in flexible working opportunities? Morgan Stanley empowers employees to have greater freedom of choice through flexible working arrangements. Speak to our recruitment team to find out more.
Internal Applicants:
Internal mobility can be a way to grow your career and realize your professional potential. Typically, you must be in your position for at least 18 months and performing satisfactorily before applying for another job at the Firm. Internal applicants can find out more regarding career navigation, mobility guidelines and policy on our employee portal.
Equal opportunities statement:
Morgan Stanley is an equal opportunities employer. We work to provide a supportive and inclusive environment where all individuals can maximize their full potential. Our skilled and creative workforce is comprised of individuals drawn from a broad cross section of the global communities in which we operate and who reflect a variety of backgrounds, talents, perspectives, and experiences. Our strong commitment to a culture of inclusion is evident through our constant focus on recruiting, developing, and advancing individuals based on their skills and talents

• Advising different functions within the Firm, including Sales, Trading, Transaction Management (documentation) and Business Control Unit on legal and regulatory risks associated with structured products transactions (including exchange traded products), repackaging transactions and proprietary index and strategy solutions, with particular attention to retail transactions.
• Advising on product governance and regulatory and reputational issues, drafting appropriate disclosures and identifying other possible solutions to mitigate risks.
• Advising on new and existing EU and UK regulations, including disclosure regulations (such as Prospectus Regulations, PRIIPS and other local public offer rules), Benchmark Regulation, ESG, Consumer Duty, and product governance regulations more broadly.
• Negotiating distribution agreements (either directly or with the support of third party vendors) and other commercial arrangements, including platform agreements, fee letters and liquidity arrangements.
• In conjunction with external counsel, reviewing and advising on offering documentation (prospectus, final terms, term sheets), KIIDs and marketing materials.
• In conjunction with external counsel, reviewing MS proprietary index methodologies and advising on appropriate retail disclosures for the QIS business.
• Participating in the Firm’s regular engagement with industry roundtables and consultations