Regs & Compliance
16 July 2020
AIFMD evaluation: watch this space
The European Commission’s recent evaluation of the directive leaves the industry unsure as to what will happen next
31 July 2020
JFSC to develop shared KYC tool
The shared tool enables users to verify customers’ identities
31 July 2020
Guernsey introduces fund migration regs
The Limited Partnerships (Migration) Regulations 2020 allows limited partnerships to relocate to Guernsey quickly and easily
27 July 2020
LIBOR limbo
While it might seem as though there’s plenty of time for managing the transition, if left too late, GPs will have to accept whatever replacement rate they’re given
23 July 2020
Steadying the ship
Can a solid operating platform provide much needed certainty in an increasingly uncertain world?
21 July 2020
MUFG selects Broadridge’s loan tracking tech
Partnership comes off the back of strong growth in the private debt, credit and direct lending market
20 July 2020
Domicile watch: July 2020
Key takeaways from the major PE domiciles: including how Luxembourg, Guernsey and Jersey are adjusting their practices as Covid-19 country lockdowns are eased while Cayman highlights a fraudulent due diligence email being circulated
20 July 2020
Jersey expects increased fund migration following new LP rules
The amendment makes it easier for managers to migrate structures from elsewhere in a quick, cost-effective manner.
17 July 2020
DAC 6 tax reporting regime sparks debate
The legislation requires certain cross-border arrangements to be reported to tax authorities by taxpayers and/or their advisers
16 July 2020
Post Brexit rules come to light
The FCA announced replacement rules for investment firms, namely a new prudential regime that may hit PE houses
14 July 2020
DMS Group acquires Oligo
The acquisition enhances DMS’ European product offering to provide Swiss fund services and bespoke solutions to clients
13 July 2020
Hong Kong passes Limited Partnership fund regime
The new bill "makes impressive strides" in attracting investment funds, including private equity and venture capital
9 July 2020
LP expert Graye joins forces with qashqade
LP expert and industry advocate Lorelei Graye joins qashqade’s executive advisory
8 July 2020
Jersey seeks feedback on LP continuance fees
The proposed fees will only affect foreign limited partnerships wanting to migrate to Jersey
6 July 2020
Jersey’s PE funds increase by 11%
Latest figures show private equity assets serviced in Jersey increased from £136bn to £150.5bn in Q1 2020
3 July 2020
Jersey increases fund fees
The new rates form part of the regulator’s 2020 business plan
2 July 2020
5 minutes with… Matthew Crisp, Wheelhouse
The CEO of Wheelhouse Advisors discusses the firm’s spinout from ACA Compliance and the key tax, regulatory and compliance developments PE firms need to be aware of
17 June 2020
European Commission evaluates impact of AIFMD
The survey assessed whether specific rules are considered effective, efficient, coherent and relevant by stakeholders
15 June 2020
Guernsey launches fast-track licencing for overseas funds
The regime aims to enable simultaneous consideration of a migration into the Bailiwick of Guernsey and licencing of the manager within a 10-day period
15 June 2020
CFOs must cope with lack of recognition
Despite the broadening and increasing complexity of their roles, private equity CFOs lack adequate recognition, according to Investec's latest report
15 June 2020
Comment: Considerations for hiring tax talent
As the importance of having internal tax resources grows, what needs to be considered when hiring this type of talent?
15 June 2020
Domicile watch: June 2020
Key takeaways from the major PE domiciles: including how Luxembourg, Guernsey and Jersey are adjusting their practices as Covid-19 country lockdowns are eased while Cayman highlights a fraudulent due diligence email being circulated
15 June 2020
LPs to sharpen focus on valuations
Coller Capital's Global Private Equity Barometer Summer 2020, found almost half (48%) of LPs require or will require their GPs to perform independent valuations
11 June 2020
Comment: A decade of fund finance in Luxembourg
More competition plus an increasingly complex regulatory environment requires greater sophistication and specific LPA provisions, writes Wildgen's Michael Mbayi
11 June 2020
ESMA outlines plans for fund fees and expenses
The guidance responds to calls for improving convergence across national regulators in their approach to fund costs
9 June 2020
GPs see digitisation as a growth enabler
The Intertrust PE Report Summer 2020 survey, found technology and digital functionalities are key in helping firms to achieve greater transparency
8 June 2020
Apex expands Throgmorton in Switzerland
The new office provides accounting and tax compliance services, company secretarial and governance as well as payroll services to businesses operating locally
8 June 2020
Special sauce
The Drawdown caught up with some of the UK's leading special situations investors to find out how they've been reacting to the crisis
5 June 2020
ESMA updates MiFID II compliance guidelines
The final draft replaces the 2012 guidelines and provides more clarity on implementation and supervision of new MiFID II compliance function requirements
4 June 2020
ESMA proposes cloud outsourcing guidelines
The guidelines aim to mitigate any potential risks firms may face as a result of outsourcing cloud services and ensure they are handled appropriately
1 June 2020
Guernsey launches guidance on green PE principles
The aim is to bring climate risks and resilience into the heart of private equity decision making
20 May 2020
Comment: Bringing tax resource in-house
PE firms ought to think seriously about bringing tax expertise in-house, says Simon Bowden, search director, March Consultants
18 May 2020
Comment: Secondaries legal issues and risks
Jonathan Blake, Stephen Newby and Shantanu Naravane at Herbert Smith Freehills consider investor liquidity in private funds, GP-led secondaries, principal legal issues and key risks
11 May 2020
Join us: CFOs & FD networks
Part one of our mini series on networks in PE: this instalment considers CFO & FD networks and finds they can be more hindrance than help
11 May 2020
Domicile watch
A round-up of key takeaways from major PE fund domiciles, including a Jersey Finance survey, ESG and climate change initiatives as well as regulatory updates
1 May 2020
Palatine-backed SMP buys RBC’s corporate services HK
As part of the deal, RBC’s clients and employees of this division will transfer to SMP
1 May 2020
CSC expands fund services into Ireland
The firm was granted a licence to provide its offering there by the Central Bank of Ireland
28 April 2020
Proposed ESG disclosures open for consultation
This is the next step in increasing clarity around ESG reporting, and gives some idea of what might be expected of firms going forward
23 April 2020
ESMA, FCA extend annual reporting deadlines
The guidance is for private fund managers following the Alternative Investment Fund Managers Directive
16 April 2020
WFH best practice: Regulators and financial reporting
The third article in our mini-series provided by 3LDC focuses on reporting, financial and regulatory commitments during lockdown. It aims to remind and provide brief guidance on what firms should be doing.
9 April 2020
Liquidity in lockdown: Lenders
How are GPs working with their lenders to access more liquidity? What can be done if covenant breaches occur?
6 April 2020
The operating committee
A number of large private equity houses are setting up operating committees in response to the major tasks now faced by non-deal team members
30 March 2020
COVID-19: Economic substance adjustments
Could temporary measures drive global consensus on economic substance requirements?
27 March 2020
Hazard warning: valuations in the midst of volatility
Key considerations for valuing portfolio companies in current conditions
27 March 2020
IPEV releases statement on fair value
LPs have a critical need at 31 March 2020 for their GPs to report underlying investments at fair value on a timely, consistent and rigorously determined basis.
24 March 2020
Luxembourg adapts to temporary substance requirements
The jurisdiction enacted emergency legislation to protect investment funds and companies against the global pandemic
20 March 2020
Guernsey and Jersey adjust substance requirements
Guernsey and Jersey have collectively adjusted their requirements for economic substance amid the outbreak of Covid-19, to help reduce the spread of the virus
17 March 2020
5 minutes with… Troy Pospisil, InCloudCounsel
InCloudCounsel founder and CEO Troy Pospisil discusses the advantages of digitising legal contracts
16 March 2020
The increasingly public world of private equity
In late January, the IPEM conference in Cannes brought together almost 3,000 delegates, spanning all corners of the industry. The key takeaway was that private equity is an increasingly public affair
12 March 2020
Budget 2020 and private equity
While tax treatment for fund executives remains the same, there will be a review of overseas fund structures
9 March 2020
PE faces tighter remuneration rules
Bank-style regulation continues to extend to private capital markets, says Linklaters
24 February 2020
Comment: Making tax digital
Louise Scholey, associate director at Grant Thornton provides a practical guide to taking tax into the digital age
17 February 2020
Face value
A group of venture capital CFOs sat down with The Drawdown to discuss challenges of valuing pre-revenue companies and implications of the new IPEV guidelines
13 February 2020
Tomorrow’s CFO leads
They will be expected to take on a leadership role as it adapts to the numerous regulation and technology changes going forward
20 January 2020
Comment: Respecting risk management
There’s no reward without risk but where's the reward in risk management?
9 January 2020
Valuations what’s new, what’s not and what matters
A round-up of recent regulatory developments for private equity valuation practices
6 January 2020
The Profile: Jason Howard, Headway Capital
Headway’s CFO Jason Howard looks back at the important lessons learned throughout his career, which now act as intrinsic guides for his current role, where meeting the needs of clients is key.
19 December 2019
Take the risk
The cultural shift towards robust risk management is finding its way to private equity, and with it, the potential to unravel entrenched structures.
16 December 2019
Craic on
Reforms to Ireland’s LP structure will likely be legislated in early 2020, however, after years of promises, what will actually be legislated and will PE care?
16 December 2019
Lithuania seeks to attract fund managers
Recent regulatory amendments aim to position the country as an attractive domicile