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Regulatory update

Guernsey introduces fund migration regs

The Limited Partnerships (Migration) Regulations 2020 allows limited partnerships to relocate to Guernsey quickly and easily

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

Steadying the ship

Can a solid operating platform provide much needed certainty in an increasingly uncertain world?

Post Brexit rules come to light

The FCA announced replacement rules for investment firms, namely a new prudential regime that may hit PE houses

Hong Kong passes Limited Partnership fund regime

The new bill "makes impressive strides" in attracting investment funds, including private equity and venture capital

Jersey seeks feedback on LP continuance fees

The proposed fees will only affect foreign limited partnerships wanting to migrate to Jersey

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

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

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

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

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

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

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

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

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

ESMA, FCA extend annual reporting deadlines

The guidance is for private fund managers following the Alternative Investment Fund Managers Directive

COVID-19: Economic substance adjustments

Could temporary measures drive global consensus on economic substance requirements?

Hazard warning: valuations in the midst of volatility

Key considerations for valuing portfolio companies in current conditions

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.

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

PE faces tighter remuneration rules

Bank-style regulation continues to extend to private capital markets, says Linklaters

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

Valuations what’s new, what’s not and what matters

A round-up of recent regulatory developments for private equity valuation practices

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.

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?

Romania approves New AIF Law

Updated law better aligns Romania with recent EU developments

EU introduces new ESG regulation

Rules apply from 10 March 2021

5 minutes with… Castalia Compliance

Tracy Diamond, founder of boutique consultancy Castalia Compliance reveals her top tips for handling growing regulatory burdens

The enforcers: Autorité des Marchés Financiers

France’s bid for post-Brexit business opens our global series on regulators

Appetite mounts for standardised performance reporting

Compliance with GIPS rules can be factor in GP searches by consultants, survey shows

5 minutes with… Travers Smith

The Drawdown talks new LP operational due diligence strategies with Sam Kay

Prepare yourself for the GDPR

The General Data Protection Regulation takes hold in May 2018 and private equity won't be unaffected

ILPA opposes proposed SEC private equity regulations reforms

Financial CHOICE Act would remove SEC registration requirement for fund investment advisers