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Regs & Compliance

Invest Europe releases new ESG reporting guidelines

New guidelines aim to be user friendly and include a voluntary reporting template

Aztec launches streamlined onboarding solution

Aztec Verify automates the due diligence process while ensuring regulatory compliance

In conversation: Power to the LP

Highlights from a recent roundtable event examining the growing influence of investors in private equity fund management

Profile: Kerrie Chung, Welkin Capital Management

The finance director discusses the firm’s setup when she joined, differences between fund administration for Cayman funds and local RMB funds, as well as Welkin’s tech stack

Apex acquires Prometa

Prometa provides fund services to clients in Canada, the US and Bermuda

IQ-EQ acquires JGM

US-based JGM provides middle and back office services to private equity and real estate firms

Broadridge’s PE platform open for US funds

Private Market Hub is powered by distributed ledger technology

Daring to be different

Having enjoyed several years of stellar growth, have Asian fund managers done enough to ensure their firms are operating in a robust enough manner to weather the gathering global macroeconomic storm?

Domicile watch: August 2022

Key takeaways from the major private equity domiciles, including: JFSC’s extension of its AIF reporting deadlines, the FCA’s new rules for its AR scheme as well as AMF’s consultation on PE funds’ end of life

Legal lowdown: Michael Halford, Goodwin

The partner, co-chair of global private investment funds discusses recent client challenges, thoughts on the FCA’s new AR rules and what he makes of PE’s reputation

Novata launches SFDR reporting solution

The tool should allow portfolio companies to produce tailored SFDR reports

FCA sets sights on conflicts of interest

The UK watchdog has highlighted conflicts of interest as a key area of focus in its latest portfolio letter

Data analytics should be top priority for service providers

EY believes off the shelf solutions will no longer work to achieve GPs’ data requirements

JTC launches Irish fund administration services

The launch comes after the fund administrator received regulatory approval from the Central Bank of Ireland

Vauban creates Lux fund launchpad

The platform aims to help emerging managers to launch VC funds in Luxembourg

BOE interest rate hike to impact valuations

“I think we can expect to see the interest rate hike exert some downwards pressure on valuations, though how much is difficult to forecast given the broader market conditions.”

FCA sets out new rules for AR scheme

The new rules aim to improve oversight of appointed representatives, while placing more responsibility on principal firms

Data, cyber security and AI compliance: managing the evolving landscape

Debevoise & Plimpton’s Robert Maddox and Martha Hirst detail how new cyber and privacy rules from regulators worldwide will impact PE firms, and provide five key tips to stay ahead

FCA consults on retail access to LTAFs

The regulator has proposed draft rules to open up access to a broader range of retail investors, while providing further investor protection

Setting the record straight

Eric de Montgolfier, CEO of Invest Europe goes beyond the fiction and details the facts about private equity and venture capital in Europe

Domicile watch: July 2022

Key takeaways from the major PE domiciles: including JFA’s new committee, GFSC’s updated blacklist and proposed fees increase as well as FCA’s leadership hires

NAV Fund Administration expands to Mauritius

The firm received a management licence from the Mauritius Financial Services Commission to operate as a managed corporate service provider

Petra opens London office

Former Riverstone European general counsel and head of ESG, Charlie Chipchase, will lead the fund administrator’s new branch

House of Lords slams PE for “financial engineering and tax avoidance”

Lord Sikka pointed to private equity fund and deal structures in Switzerland, Jersey and the Caribbean, created for the purpose of “asset stripping, profit shifting and tax avoidance”

Arrow opens Luxembourg office

The new office will provide fund administration services via a local team

AIFMD II: Where are we now?

The EU Council’s latest published document responds to the European Commission’s proposals, which would subsequently result in AIFMD II

Legal lowdown: Sam Kay, Travers Smith

Partner and head of investment funds discusses PE’s evolution since 1998, the importance of carry, along with the challenges of labelling funds in relation to SFDR and the Taxonomy Regulation

FCA delays consultation on SDR

The FCA has delayed its internal consultation period from Q2 2022 to autumn 2022

Pinsent Masons expands to Luxembourg

As part of the expansion, Wildgen’s Michel Bulach, David Maria and Mark Shaw have joined the team

Ocorian secures three Irish licences

The fund administrator has received AIFM, fund administration and real asset depositary services licences from the Central Bank of Ireland

Key reporting deadlines for Q3 2022

Need to know dates for private equity filings in the third quarter of 2022

Domicile watch: June 2022

Key takeaways from the major PE domiciles: including the FCA’s policy statement on regulated fees and levies for 2022/23, JFSC’s deadline extension for 2022 JPF annual compliance returns and Ireland reaches €4trn for the first time

EFA expands to the Nordics

The fund administrator has opened an office in Stockholm

Grant Thornton promotes Killer to partner

Martin Killer joined the firm in March 2018 as tax director

Private fund managers not ready to comply with SEC regulations

Only 17% of private fund managers surveyed believe their organisations are very prepared to comply with the SEC’s forthcoming reporting and compliance requirements

TMF Group partners with Governance.com

The partnership aims to accelerate digital governance through process automation

More signal, less noise: enhancing the UK’s position as a fund domicile

Despite housing the largest asset management industry in Europe, the UK ranks behind other jurisdictions as a domicile of choice for UCITS and AIFs

Comment: Keep your head in the cloud to track ESG

To be good at ESG investing you need an exceptional ESG tracking system, which requires the power of the cloud, writes Ben Harrison of Intapp

Profile: Laurent Marvy, PAI Partners

The head of HR discusses the key differences of HR & talent across the globe, PAI’s HR set up and advice for firms wanting to maintain culture in a hybrid environment

Zeidler launches digital sustainable finance module

The module provides practical guidance on sustainable finance regulations, disclosure and reporting obligations

Operational lens: Summa Equity Fund III

Summa’s latest fund was almost quadruple the size of its predecessor, despite being raised remotely. General counsel Martin Sjölund, talks us through their Swedish fund structure, the bespoke onboarding solution, tackling compliance heavy ODD and Summa’s supportive partners.

FundRock expands to the Netherlands

The new office in Amsterdam will provide fund distribution services to clients

Profile: Patrick Camenisch, Evoco Private Equity

The director of finance and operations discusses automating processes, fund administrator challenges, and why Evoco switched fund domicile from Jersey to Luxembourg

Comment: ESG and PE in Asia: rules of attraction

Stephanie Keen, leader of Hogan Lovells’ corporate & finance practice in Asia Pacific and associate Amelia Lee detail regulatory developments putting ESG firmly on the map in Asia.

ESAs clarify SFDR and Taxonomy Regulation compliance

Recent statement aims to clear up confusion over the application of SFDR and the Taxonomy Regulation ahead of their adoption

Force of nature

The TCFD has put action to prevent climate change to the forefront of investing, now a new nature-related framework aims to put the spotlight on biodiversity

Domicile watch: May 2022

Key takeaways from the major PE domiciles: including JFSC’s fee increases, Jersey’s amendment to its Limited Partnership Law and GFSC joining TNFD

Crestbridge secures new Bahrain licence

The licence enables Crestbridge to continue its fund administration work in Bahrain following the restructure of its Middle Eastern business

Legal lowdown: James Oussedik, Sidley Austin

To kick off our legal insights series, James Oussedik, investment funds partner at Sidley Austin discussed his thoughts on AIFMD II and fund domiciliation challenges

Chain reaction: the hidden depths of KYC

KYC is so much more than just a passport and a utility bill. Highvern’s Ken Ritchie details the intricacies of KYC compliance

Jersey amends limited partnership law

Latest amendments aim to provide fund managers with greater flexibility in international fund structuring

In the dog house

How effective are financial regulators when it comes to keeping private equity in check?

Domicile watch: April 2022

Key takeaways from the major PE domiciles: including Jersey’s NPPR use by AIFs and CIMA’s latest promotions

EU Commission publishes finalised RTS under SFDR

The Commission Delegated Regulation will come into force on 1 January 2023, when SFDR is expected to come into effect

Highvern receives Irish TCSP authorisation

The authorisation enables the fund administrator to provide corporate administration services to section 110 and SPV structures across alternative asset classes

Domicile watch: March 2022

Key takeaways from the major PE domiciles: including the FCA’s PRIIPs regulation, JFSC’s proposal to increase investment business fees and the latest addition to Guernsey’s blacklist

Profile: Kristy Trieste, Motive Partners

The CFO & chief compliance officer discusses being a founding partner, plans for the compliance function going forward, as well as how she interacts with IR

Kroll launches valuation practice in Lux

The new business is headed up by Armand Kantar, who has been with the company since 2019

“C-Suite and non-competes in the age of the tweet” – restrictive covenants and social media

Proskauer Rose’s Dorothy Murray and Nicola Bartholomew discuss the increasingly blurred lines when it comes to non-competes and personal social media accounts

GRI most popular ESG reporting framework

The framework is widely used across the US and Western Europe because it’s considered the most comprehensive standard for sustainability reporting