Investment funds and asset management

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Latest Financial Services News

Halkbank tells 2nd Circuit it's immune from sanctions prosecution

The following Corporate Crime news provides comprehensive and up to date legal information on Halkbank tells 2nd Circuit it's immune from sanctions prosecution

The Upper Tribunal dismisses application to prohibit publication of FCA’s Decision Notice for non-financial misconduct [Frensham v FCA]

The following Financial Services news provides comprehensive and up to date legal information on The Upper Tribunal dismisses application to prohibit publication of FCA’s Decision Notice for non-financial misconduct [Frensham v FCA]

Contractual interpretation by administrators and common sense (Avery-Gee and others v Sibley and others)

The following Financial Services news provides comprehensive and up to date legal information on Contractual interpretation by administrators and common sense (Avery-Gee and others v Sibley and others)

Financial Services weekly highlights—8 April 2021

The following Financial Services news provides comprehensive and up to date legal information on Financial Services weekly highlights—8 April 2021

Featured Financial Services content

The Money Laundering Reporting Officer (MLRO)—duties

The roles of nominated officer and money laundering reporting officerA nominated officer is an individual who is nominated by a firm to receive...

Insurance conduct regulation—COBS and ICOBS

The Financial Conduct Authority Handbook (FCA Handbook) includes sourcebooks to regulate the conduct of business by a regulated firm relevant to...

Non-UCITS retail schemes (NURS)

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Regulatory capital—purpose, quantity and quality

Brexit; As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

Practice notes

Public censure by the FCA

Disciplinary powers of the FCAThe disciplinary powers of the Financial Conduct Authority (FCA) are found in Part XIV of the Financial Services and...

9th Nov

Practice notes

Basel Accord

The Basel Committee on Banking Supervision (BCBS), consisting of the central banks of governors of the so-called G10 countries (Belgium, Canada,...

Produced in partnership with Morrison & Foerster LLP 12th Jan

Practice notes

Financial Conduct Authority—objectives and principles

The role of the FCAThe Financial Conduct Authority (FCA) forms part of the regulatory structure for financial services firms. The FCA has a...

9th Nov

Practice notes

Consumer protection—FCA and other regulatory requirements

This Practice Note looks at key aspects of consumer protection within the UK financial services regulatory system. The UK’s regulatory structure,...

9th Nov

Practice notes

Fair and Effective Markets Review (FEMR)—one minute guide

On 10 June 2015, the Fair and Effective Markets Review (FEMR) published its final report. Running to 106 pages, the report covers a wide range of...

9th Nov

Practice notes

Recognised investment exchanges

Recognised investment exchangesA recognised investment exchange (RIE) is a UK recognised body under Part XVIII of the Financial Services and Markets...

9th Nov

In-house

Practice notes

UCITS VI

UCITS VIUCITS VI describes the European Commission's Consultation on Undertakings for Collective Investment in Transferable Securities issued 26th...

Produced in partnership with Andrew Henderson Partner, Eversheds Sutherland LLP 12th Jan

Practice notes

European Venture Capital Funds (EuVECA) Regulation

BREXIT: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

9th Nov

Practice notes

Entering into a consumer hire agreement as owner

BREXIT: The UK is leaving EU on Exit Day (as defined in the European Union (Withdrawal) Act 2018). This has an impact on this Practice Note. To ensure...

9th Nov

Practice notes

Authorised unit trust authorisation and winding-up

Authorisation of an authorised unit trust (AUT)What is an AUT?A unit trust is a type of collective investment scheme (CIS) in which the assets are...

9th Nov

Practice notes

Debt sale and purchase agreements

The debt sale and purchase market in the UKThe debt sale and purchase market has for some time been very active throughout the UK. It is an important...

9th Nov

In-house

Practice notes

Second Wire Transfer Regulation (WTR2)—essentials

Brexit: As of exit day (31 January 2020), the UK is no longer an EU Member State. However, in accordance with the Withdrawal Agreement, the UK has...

9th Nov

Practice notes

The impact of Brexit on the MiFID II regime

This Practice Note provides information relating to the impact of Brexit on the recast Markets in Financial Instruments Directive (Directive...

9th Nov

Brexit

Practice notes

MiFID I—Transaction reporting

This Practice Note provides an overview of the transaction reporting requirements that existed under the Markets in Financial Instruments Directive...

9th Nov

Practice notes

Impact of Brexit: Solvency II—quick guide

This Solvency II quick guide details current UK legislation and retained EU legislation in relation to prudential insurance requirements that will be...

9th Nov

Brexit

Practice notes

What is credit and what is a regulated consumer credit agreement?

Scope of this Practice NoteThere are several factors to consider when deciding whether or not a credit agreement is regulated under the regulatory...

9th Nov

Most recent Investment funds and asset management content

Practice notes

Reviewing the tax aspects of a private equity fund limited partnership agreement

This Practice Note sets out what to look for when reviewing a private equity fund limited partnership agreement (LPA) from a tax perspective. It is...

Produced in partnership with Catherine Sear of Proskauer Rose 13th Apr

Practice notes

The impact of Brexit on the MiFID II regime

This Practice Note provides information relating to the impact of Brexit on the recast Markets in Financial Instruments Directive (Directive...

12th Apr

Brexit

Practice notes

The role of boilerplate

This Practice Note discusses the role and importance of the boilerplate clauses in an agreement. It identifies the boilerplate clauses that most...

12th Apr

Practice notes

Getting the Deal Through: Islamic Finance & Markets 2021

Jurisdictions coveredThe following jurisdictions are covered in this report:France; Japan; Malaysia; Philippines; Switzerland; United Kingdom; USA;...

9th Apr

Practice notes

Brexit—drafting boilerplate clauses [Archived]

ARCHIVED: This Practice Note has been archived and is not maintained. It considers the impact of Brexit on contractual boilerplate clauses in advance...

9th Apr

Brexit

In-house

Precedents

Limited partnership agreement—private fund limited partnership

This limited partnership Agreement is made on [insert day and month] 20 [insert year]Parties1[insert name of general partner] of [insert address] (the...

9th Apr

Practice notes

Taxation of authorised investment funds (AIFs)—taxation of the fund

This Practice Note looks at the rules that apply to the taxation of authorised investment funds (AIFs), which is the collective term used for certain...

Produced in partnership with Camilla Spielman 9th Apr

Practice notes

Taxation of unauthorised unit trusts—practical uses and considerations

This Practice Note summarises the main practical uses of unauthorised unit trusts (UUTs) and some of the common issues that arise in those...

9th Apr

Practice notes

Taxation of hedge funds—structure of the hedge fund vehicle

This Practice Note looks at the typical legal structure of a hedge fund vehicle.For what hedge funds are, and the particular characteristics that all...

Produced in partnership with James McCredie and Alicia Thomas of Macfarlanes LLP 9th Apr

Practice notes

Taxation of private equity funds—how is a fund structured?

This Practice Note provides an introduction to the structure of a typical onshore private equity fund. In particular, it explains:•what a private...

Produced in partnership with Emily Clark of Travers Smith 9th Apr

Practice notes

Taxation of unauthorised unit trusts

What is an unauthorised unit trust (UUT)?Unit trusts, as a vehicle-type, are chiefly used as investment vehicles. An ‘unauthorised’ unit trust (UUT)...

9th Apr

Practice notes

Taxation of investment trusts—tax treatment of the fund and its investors

An investment trust is a listed pooled investment vehicle in the form of a UK tax resident company (despite the name, it is not a trust). Investment...

Produced in partnership with Michael Alliston 9th Apr

Practice notes

Property authorised investment funds (PAIFs)—summary

The regime for property authorised investment funds (PAIFs, or as HMRC use in regulations and their published guidance, Property AIFs)) was introduced...

Produced in partnership with Martin Shah of Simmons & Simmons LLP based on material originally written by Charles Goddard of Rosetta Tax LLP 9th Apr

Practice notes

Understanding the tax disclosure in a fund Private Placement Memorandum (PPM)

To seek out investors, a private equity fund will use a private placement memorandum (PPM) as its main marketing document. The content of a PPM is...

Produced in partnership with Catherine Sear of Proskauer Rose 9th Apr

Practice notes

Taxation of hedge funds—hedge fund managers and the management structure

When considering the fund management structure for a hedge fund, the structure of the hedge fund itself, and in particular the jurisdiction in which...

Produced in partnership with James McCredie and Alicia Thomas of Macfarlanes LLP 9th Apr

Practice notes

Taxation of authorised investment funds (AIFs)—what are they?

An authorised investment fund (AIF) is a variety of collective investment scheme (CIS). It is important to understand what a CIS is before considering...

Produced in partnership with Camilla Spielman 9th Apr

Practice notes