Regulatory update
24 May 2023
ESMA issues opinion on ‘undue costs’
Regulatory authority is concerned about diverging levels of investor protection across the bloc
23 May 2023
ESMA calls for input on ELTIF regime
Regulator is taking a closer look at redemption policy and matching mechanism
19 May 2023
Blackrock to launch LTAF
The FCA has granted Blackrock approval to launch fourth LTAF on the market
15 May 2023
In-house rules: legal versus compliance
As more lawyers move into in-house roles within private equity, they can take up the mantle of either legal or compliance – but how do these functions cross and diverge?
10 May 2023
Help your LP help you
As regulatory and economic perspectives on capital allocation diverge, LPs’ expectations towards their GPs are changing
3 May 2023
Who watches the watchdogs?
Macfarlanes calls for new independent body to increase democratic accountability and expertise of the UK’s financial services regulator
3 May 2023
Jersey widens AML/CFT scope
Jersey private entities with a local administrator no longer exempt from regime
2 May 2023
Up close and personal
FCA and HM Treasury take a deep dive into the effectiveness of SMCR so far; we explore what’s included in the consultation papers and what might be up for reform
24 April 2023
Not on the guestlist
A connection to public entities could see the EU's new Foreign Subsidies Regulation crash the dealmaking party
20 April 2023
Waystone acquires Link Fund Solutions
The deal is dependant on LFS settling with the FCA
17 April 2023
Critical about clouds
The UK's bill on operational resilience could empower GPs vis-à-vis cloud service providers, but concerns about regulatory fragmentation leave a bitter aftertaste
13 April 2023
The neverending SFDR story
EU’s supervisory authorities look to broaden SFDR disclosure requirements
5 April 2023
Invest Europe voices concern over FSR
The EU’s proposed Foreign Subsidies Regulation regime “risks creating a chilling effect on investment and participation in the European economy”
3 April 2023
ESMA publishes product governance guidelines
The requirements are akin to the FCA’s Consumer Duty but are not legally binding
31 March 2023
Climate vs competition: A balancing act
In relatively new territory, GPs must juggle climate-based agreements with competition law risks
30 March 2023
Comment: DORA - a paradigm shift
Robert D Maddox and Tristan Lockwood at Debevoise & Plimpton assess new continuity requirements and suggest organisational and technical changes will be needed to comply
29 March 2023
FCA updates on SDR consultation
Final policy statement to come in Q3 2023 due to significant amount of responses
28 March 2023
Lord Mayor of London calls for pensions reform
City of London hopes to create Future Growth Fund to invest in UK’s tech industry
28 March 2023
Comment: Antitrust in me
Merger enforcers turn up the heat on private equity: what can you do to stay cool?
24 March 2023
Mean green litigation machine
ESG jurisprudence continues to develop as BNP Paribas first private player to be hit with lawsuit
17 March 2023
CSSF updates SFDR FAQ
Luxembourg regulator adds three new questions to help clarify SFDR
16 March 2023
UK updates QAHC regime
‘Qualifying fund’ requirement more easily met with further amendments on the way
16 March 2023
Khepri launched via MBO of MJ Hudson UK unit
Will Roxburgh and Mike Booth have led the buyout of MJ Hudson’s UK regulatory and fund management business
13 March 2023
ESLitiGation
As regulators gear up for ESG enforcement action, private litigation is revving its engines, ready to hit the streets
3 March 2023
ELTIF: second time’s the charm
Possibility to set up master feeders and fund-of-funds structures could open up retail investment for small and mid-cap firms
21 February 2023
FCA eyes regulatory streamlining for UK funds
Financial watchdog launches consultation paper as it seeks to modernise current regulatory framework and the use of tech in asset management
20 February 2023
FCA addresses sustainability regulations ‘alphabet soup’
Regulator requests feedback on sustainability-related governance to help reform industry obligations
17 February 2023
Katten launches ESG risk and investigations practice
India D Williams joins firm as practice co-chair with partner Johnjerica Hodge
15 February 2023
AIFMD II: Electric Boogaloo
Regulator expands the scope of delegation and adds new rules for loan-origination funds
15 February 2023
AMF calls for more stringent SFDR regulations
French financial watchdog proposes the introduction of minimal environmental requirements
10 February 2023
Firms’ operations a concern for FCA
Financial watchdog’s recent ‘Dear CEO’ letter holds a lens up to firms’ operational and financial resilience alongside ESG
10 February 2023
UK - Same same but different
The UK's similarly named SDR is akin to the EU's SFDR, but it's best to contrast rather than compare
9 February 2023
Germany - Wait and see
The regulator’s focus on Article 8 funds and failure to address real concerns leaves the industry frozen
8 February 2023
France - Layers and labels
The regulator requires additional disclosures not required by other Member States
7 February 2023
Ireland - Our survey says…
The regulator has taken a pragmatic, survey-informed approach
6 February 2023
SFDRRRGGHHH!!!
European member states are interpreting and applying incoming esg disclosure rules differently, creating even more confusion and frustration for managers
3 February 2023
Sun, sea and… startups!
The Spanish Startup Act aims to boost growth in the startup ecosystem with enticing tax relief for GPs
1 February 2023
PRI updates reporting framework
Following signatory feedback, changes aim to reduce duplication while increasing alignment with other private market modules and external regulatory standards
27 January 2023
Top of the chain
With the Consumer Duty expected to come into effect on 31 July 2023, the responsibility to comply will apply to the entire supply chain, including fund managers
25 January 2023
Travers Smith names Cawood as PE head
The appointment follows several departures from the law firm as US-led groups build their European practices
16 January 2023
A question of intent
EFAMA responds to ESA’s consultation on greenwashing, distinguishing between misleading with intent and regulatory uncertainty
12 January 2023
Capital-raising punishment: Painful process
A sleek and streamlined onboarding process is vital to make sure hard-won commitments aren’t scared off
9 January 2023
Regulatory roadmap 2023
ESG is set to be the biggest bump in the regulatory roadmap for 2023, along with AIFMD and AML reforms in tow
9 January 2023
Highvern Ireland to offer fund administration services
The Central Bank of Ireland has granted the firm regulatory approval for fund administration services
9 January 2023
Capital raising punishment: Marketing madness
Compliance and legal obligations for raising a fund have been building steadily in recent years. But given the sudden tightening of the fundraising market, the myriad rules managers must navigate have made capital raising a punishingly cruel exercise.
5 January 2023
State of New York increases cap on alternative allocations for pensions
Governor has signed bill increasing permitted allocations from 25% to 35%
3 January 2023
5 minutes with… David Genn, CEO of Goji
We spoke to the CEO of Goji to find out how they are using digitisation to open up investor access to private equity funds
15 December 2022
A piece of the pie
As the alternative assets sector becomes more attractive for DC pension schemes, fund managers are tasked with scaling up to accommodate liquidity management
14 December 2022
IPEV publishes updated guidelines
The latest version includes updates reflecting the impact of distressed market conditions
12 December 2022
Edinburgh reforms cement UK financial divergence
The Chancellor of the Exchequer revealed more than 30 regulatory reforms to the UK financial industry to drive competitiveness and growth
9 December 2022
PRI welcomes sustainability due diligence legislation
Eurosif and the Investor Alliance for Human Rights among consortium supporting EU proposal; which has issued additional recommendations
9 December 2022
CSRD implementation removes GP hurdle
The CSRD has been officially adopted as EU legislation, removing a GP operational burden
6 December 2022
Exclusion exemption
FCA clarifies which investors are exempt from Consumer Duty in latest quarterly consultation paper
5 December 2022
Comment: Known or knowable? It depends
Nic Müller, CEO of Avega Capital Management, looks at a recent clarification to the IPEV guidelines, and hopes greater harmonisation is coming
5 December 2022
Managers downgrading SFDR fund labels
Continued tightening of the SFDR has seen several funds move from Article 9 to Article 8
1 December 2022
ESG-related terms: a new circle of confusion
ESMA’s consultation on ESG-related terms risks adding more uncertainty to an already fragmented legal framework
22 November 2022
Valuations decrease predicted for Q4
Macroeconomic instability causes valuation concerns for GPs and LPs as Q4 year-end reporting approaches
14 November 2022
Stepping up to the plate: The transformative role of the Irish ILP
Sam Metland, head of private equity product at Citco, says the Irish fund regime reform provides valuable optionality to managers across Europe
8 November 2022
“QAHC, QAHC!”
The Qualifying Asset Holding Company regime is set to close the gap between the UK and other fund domiciles
