On this episode of “The Preferred Return,” co-hosts Greg Norman and Abigail Reeves look at the Alternative Investment Fund Managers Directive, particularly updates to the EU legislation, which are the most significant to...more
Over the last 10 years, continuation funds have evolved to be a well-established potential exit route for private fund sponsors. According to advisory estimates, some $40 billion deals were completed in 2023, with more than...more
Hosts Greg Norman and Abigail Reeves present another episode of “The Preferred Return” podcast, this time focusing on considerations for first time funds, including setting up a fund manager, building a team, determining fund...more
In July 2023, the UK government published its findings from the Investment Research Review (Review) as part of the UK government’s Edinburgh Reforms. The Review made a number of recommendations to encourage research...more
On 15 February 2024, Skadden partners Kenneth Burdon, Robert Chaplin, Eben Colby and Greg Norman presented the webinar “Investment Trusts and Activist Funds,” which outlined recent trends in shareholder activism in publicly...more
Activist shareholders had a busy 2023: The incidence of activist campaigns in Europe soared by almost 70% compared to 2022, according to data compiled by Skadden and Activistmonitor. As we described in a previous issue of The...more
2/16/2024
/ Board of Directors ,
Capital Markets ,
Disclosure ,
EU ,
Financial Conduct Authority (FCA) ,
Fund Managers ,
Investment ,
Investment Management ,
Listing Rules ,
New Rules ,
Open-Ended Fund Companies (OFCs) ,
Private Equity ,
Publicly-Traded Companies ,
Regulatory Reform ,
Shareholder Activism ,
Shareholders ,
Special Purpose Acquisition Companies (SPACs) ,
Stock Exchange ,
UK
On 28 November 2023, the UK’s Financial Conduct Authority (FCA) unveiled its Policy Statement PS 23/16 (Policy Statement), which sets out the final rules for sustainability disclosure and investment labels (SDR Rules). The...more
1/8/2024
/ Disclosure Requirements ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Institutions ,
Financial Services Industry ,
Investment ,
Investment Management ,
Popular ,
Private Equity ,
Sustainable Finance ,
UK
On 24 November 2023, the industry-led Technology Working Group of HM Treasury’s Asset Management Taskforce (Group) released an interim report (Report) outlining a strategic blueprint for the implementation of fund...more
12/5/2023
/ Artificial Intelligence ,
Blockchain ,
Cryptocurrency ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
HM Treasury ,
Innovative Technology ,
Investment Funds ,
Investment Management ,
Non-Fungible Tokens (NFTs) ,
Private Equity ,
Regulatory Requirements ,
Technology ,
Tokenization ,
UK
On August 23, 2023, the Securities and Exchange Commission (the SEC) voted 3-2 to adopt a final set of rules and amendments under the Investment Advisers Act of 1940 (collectively, the Final Rules) that significantly expand...more
The consultation period for the UK Financial Conduct Authority’s (FCA’s) proposed rules for labelling ‘sustainable’ financial products formed or marketed in the UK ended 25 January 2023, and final rules are expected to be...more
Following the recently introduced Solvency UK for insurers, the UK Chancellor of the Exchequer Jeremy Hunt (the UK finance minister) has announced the Edinburgh Reforms, a further series of reforms aimed at the UK financial...more
12/20/2022
/ Bank of England ,
Banking Sector ,
Digital Currency ,
Enforcement ,
EU ,
Financial Institutions ,
FinTech ,
Investment ,
Investment Management ,
New Legislation ,
Proposed Legislation ,
Proposed Regulation ,
Regulatory Agenda ,
UK
The U.K. Financial Conduct Authority (FCA) recently introduced important changes to the regime governing Appointed Representatives (ARs), which carry out regulated activity for which an authorised firm is responsible. The new...more
Environmental, social and governance (ESG) considerations continued to play a key role in the first six months of 2022, with geopolitical circumstances resulting in a reexamination of a number of ESG beliefs. In our 11...more
The UK financial services regulator Financial Conduct Authority’s latest three-year Strategy and annual Business Plan could have a significant impact on private capital sponsors and advisers and other asset managers....more
[co-author: Krishane Sri Rajkumar]
On 6 April 2022, the European Commission finally adopted the regulatory technical standards (RTS) to supplement the Sustainability-Related Disclosure Regulation (SFDR) and the EU Taxonomy...more
5/6/2022
/ Capital Markets ,
Environmental Social & Governance (ESG) ,
EU ,
European Commission ,
Financial Markets ,
Fund Managers ,
Investment Management ,
Private Funds ,
SFDR ,
Sustainable Finance ,
Taxonomy
In recent years, investment managers sponsored by established corporate enterprises (Corporate Sponsors) and corporate sponsored funds (CSFs) have been established with increasing frequency across a range of sectors, markets...more
Fund sponsors, investment advisors and other financial market participants would be forgiven for not concerning themselves with tax initiatives originally targeted at the digital economy. However, with the latest technical...more
On January 29, 2016, the Institutional Limited Partners Association (ILPA) unveiled its fee reporting template (the Template) together with accompanying guidance (the Guidance). The Template has been produced based on...more
New rules effective from today in the U.K. are likely to have material impact on the tax treatment of payments by a fund to its U.K.-based management executives and service providers. The rules cover many areas of fund...more
4/8/2015
/ Carried Interest ,
Clawbacks ,
Distribution Rules ,
Fees ,
Financial Transaction Tax ,
Fund Managers ,
Hedge Funds ,
HMRC ,
Income Taxes ,
Investment Management ,
Limited Partnerships ,
Non-Resident Aliens ,
UK