Regulatory update
3 October 2022
Invest Europe releases new ESG reporting guidelines
New guidelines aim to be user friendly and include a voluntary reporting template
2 September 2022
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
31 August 2022
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
18 August 2022
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
4 August 2022
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.”
3 August 2022
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
2 August 2022
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
25 July 2022
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”
12 July 2022
FCA delays consultation on SDR
The FCA has delayed its internal consultation period from Q2 2022 to autumn 2022
5 July 2022
Key reporting deadlines for Q3 2022
Need to know dates for private equity filings in the third quarter of 2022
7 June 2022
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.
7 June 2022
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
6 June 2022
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
30 May 2022
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
3 May 2022
In the dog house
How effective are financial regulators when it comes to keeping private equity in check?
12 April 2022
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
1 April 2022
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
28 March 2022
“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
22 March 2022
Key reporting deadlines for Q2 2022
Need to know dates for private equity filings in the second quarter of 2022
14 March 2022
LISTEN: Lessons learned with Steve Darrington
Our latest podcast details his approach to risk management, walking the line between optimism and realism, and thinking the unthinkable.
21 February 2022
5 minutes with… Global Regulatory Surveillance Services
We caught up with Joe Vittoria and Sarah Donnelly of GRSS to find out about the new firm and its surveillance system offering for regulated businesses
21 February 2022
ESG outsourcing: who’s who?
We've compiled a directory of who does what when it comes to ESG outsourcing, to help get those boxes ticked.
31 January 2022
ATAD 3: How will private equity measure up?
Andrew Howard, Ropes & Gray tax partner, outlines his thoughts on the likely impacts on private equity of the ‘ATAD 3’ EC proposal, designed to prevent the misuse of shell entities for tax purposes
24 January 2022
Domicile watch: January 2022
Key takeaways from the major PE domiciles: including the FCA's approach to EU firms temporary UK operations, Central Bank of Ireland's outsourcing guidance, Jersey fee changes and The Bahamas removal from the EU's blacklist
20 January 2022
Navigating new rules
Ropes & Gray partner, Eve Ellis, takes a look back at private equity fund regulations throughout 2021, and looks ahead to what's in store for 2022 and beyond
16 December 2021
Key reporting deadlines for Q1 2022
Need to know dates for private equity filings in the first quarter of 2022
9 December 2021
Majority of managers say greenwashing is a problem
Most managers support the FCA’s adoption of the TCFD reporting framework
2 December 2021
Compliance calendar
Need to know dates for your diary as UK rules diverge post-Brexit, as well as upcoming key European regulations
25 November 2021
European Commission puts AIFMD and ELTIF under review
The legislative proposals adopted include clarification on delegation rules
4 November 2021
Comment: New tax regime for UK asset holding companies
Ropes & Gray partner Brenda Coleman and associate Tim Waters detail the latest development for the UK funds industry
28 October 2021
Profile: Jon Fredrik Vassengen, Argentum
The manager and compliance officer discusses how the fund-of-fund determines ESG criteria and the challenges of collecting quantitative ESG data
30 September 2021
Taxation of partners: Changes expected
Alex Conway of Crowe UK details expected changes as to how partners will be taxed following the government’s current consultation
13 September 2021
IPEM 2021: PE is ready
Claire Chabrier, president of France Invest discusses how the Covid pandemic has accelerated innovation, climate issues and social responsibility
2 September 2021
Get ready for the new investment firms prudential regime
PE houses must familiarise themselves with the new requirements and ensure their forecasting practices are up to standard, writes Karen Allan of Haysmacintyre
26 July 2021
Domicile watch: July 2021
Key takeaways from the major PE domiciles: including Denmark's ranking as most business-friendly domicile, increased fund fees for Jersey and Guernsey's proposal for increasing fees
13 July 2021
EU delays SFDR application date
SFDR application has moved from 1 January 2022 to 1 July 2022 to ensure a smooth implementation of the standards
6 July 2021
Lack of standardisation biggest threat to ESG
“Without one standardised framework for reporting standards, we will continue to see firms mixing and matching various guidelines, hindering long-term process in the area.”
1 July 2021
A guide to Germany’s new pre-marketing rules
New pre-marketing obligations for German AIFs come into force this August, with a distinctive German twist
29 June 2021
Domicile watch: June 2021
Key takeaways from the major PE domiciles: including Guernsey's updated code of corporate governance, Luxembourg's FAQ on MiFID application and Cyprus' new form related to cross-border activities
25 June 2021
FCA proposes climate-related disclosures
The proposals aim to increase transparency while enabling clients to make considered choices while remaining proportionate for firms
14 June 2021
LPs increasingly concerned by tax and regulatory changes
43% of LPs identified regulatory changes as the greatest risk to PE returns
2 June 2021
Investcorp delists
The GP will delist from the Bahrain Bourse and become a closed shareholding company
4 May 2021
WATCH: What do LPs do with all the data?
A recent webinar discussion explored the way in which data is being communicated, how technology is helping both GPs and LPs, and what LPs are doing with all the information
28 April 2021
LISTEN: Do we even need standardisation? Episode 2
The second instalment of a recent podcast discussion examined industry body reporting efforts, and asked if standardised reporting is still necessary?
21 April 2021
LISTEN: Do we even need standardisation? Episode 1
A recent podcast discussion explored technological advances in data transmission, and asked if standardised reporting is still necessary?
8 April 2021
Green washing up
The SFDR aims to combat greenwashing, but what is actually expected from PE firms, and what do the new rules mean for operational leaders?
6 April 2021
A guide to continuation funds
Jeffrey Bronheim, Daniel Mathias and James Mossetto of Cohen & Gresser detail key documentation considerations in where conflicts of interest may potentially arise, and why this trend is likely to continue
22 March 2021
Protecting and enhancing value: Managing human rights risks across your portfolio
Sam Eastwood, James Ford, and Libby Reynolds of Mayer Brown predict greater focus on human rights due diligence processes
10 March 2021
SFDR comes into effect
SFDR imposes new transparency obligations and periodic reporting requirements on financial market participants
4 March 2021
Deeper Perspective: The UK Funds Regime
Benjamin Lamping, founder of Reframe Capital asks: Are we at risk of missing a potential watershed moment for the UK funds industry, and a genuine post-Brexit opportunity?
22 February 2021
Domicile watch: February 2021
Key takeaways from the major PE domiciles: including Jersey's recommendations to adapt its framework, Guernsey's latest guidance on cyber security and countering financial crime and terrorist financing, as well as Luxembourg's response to OpenLux
15 February 2021
Private equity and the trade and cooperation agreement
Brexit has shifted from political to economic, causing widespread disruption for private equity, writes Denzil Davidson of Global Counsel
8 February 2021
GAAP in Lux
Avega Capital Management’s Nic Mueller discusses why the Grand Duchy’s new interpretation of accounting standards is important for private equity funds
8 February 2021
Tangled up
Despite reaching a deal, the UK's departure from the EU leaves private equity firms caught up in an intricate web of rules and regulations
1 February 2021
Spending power: Getting a handle on legal expenses
A recent webinar discussion looked under the bonnet of legal spending
27 January 2021
Domicile watch: January 2021
Key takeaways from the major PE domiciles: including Jersey's new definition for AML legislation, changes to Guernsey's private fund regime and Ireland's prep for SFDR
21 January 2021
Private Equity Service Provider Awards: Winners announced
Winners of the Private Equity Service Provider Awards revealed
14 January 2021
ESMA reminds firms of MiFID II reverse solicitation rules
The regulator notes that since the UK’s Brexit transition period ended on 31 December 2020, some questionable practices by firms around reverse solicitation have emerged
13 January 2021
ESMA and FCA agree MMoU on information exchange
The MMoU explains the FCA’s and EEA authorities’, “willingness to cooperate with each other to maintain confidence in the financial system and preserve financial stability in their respective financial markets