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UK Implementation of AIFMD – Transitional Period Extended

In December 2013, HM Treasury announced that the transitional period allowing existing U.K. alternative investment fund managers (AIFMs) to continue managing their alternative investment funds (AIFs) without receiving...more

6/30/2014 - AIFM FCA Treasury UK

Finance Bill 2014 Published

The U.K. government has today published the final text of the 2014 Finance Bill. As discussed in our previous Alert, issued on March 19, the Finance Bill includes...more

3/28/2014 - AIFM AIFMD HMRC Income Taxes Stamp Taxes Tax Reform UK

2014 U.K. Budget: Impact on Alternative Asset Managers

Chancellor George Osborne delivered his fifth coalition Budget today. In a wide-ranging statement, there are a significant number of tax-focused proposals that will make changes across the U.K. tax system. Some of these...more

3/20/2014 - AIFM AIFMD Business Taxes Corporate Taxes HMRC Stamp Duty Land Tax UCITS UK

Salaried Members Legislation & Alternative Investment Fund Manager (AIFM) Deferral Mechanism

Draft Salaried Member Legislation - Following the publication of further guidance on February 21, 2014, Her Majesty’s Revenue & Customs (HMRC) in the U.K. has today issued revised “salaried member” legislation in...more

3/12/2014 - AIFM HMRC Income Taxes Tax Deferral

U.K. Partnership Tax Changes

Slightly later than first advertised, Her Majesty’s Revenue & Customs (HMRC) has now issued further guidance regarding the employment status of members of U.K. limited liability partnerships (LLPs)....more

2/25/2014 - Business Taxes Partnerships UK

FCA Guidance on Modification of the Funds Under Management Rule for AIFMs

The Financial Conduct Authority (FCA) has issued guidance on the application procedure for modifying the “funds under management” rule. This modification will allow alternative investment fund managers (AIFMs) that use...more

2/14/2014 - AIFM AIFMD Compliance FCA Fund Managers Modification

FCA Publishes Final Guidance on AIFMD Remuneration Requirements

This alert will be of interest to FCA-authorised investment management firms that are registering, or are currently considering registering, as alternative investment fund managers (“AIFMs”). ...more

2/3/2014 - AIFM AIFMD Compliance EU FCA Remuneration UK

FCA Publishes Update on AIFMD Application Process

This alert will be of interest to U.K.-authorised investment management firms preparing to submit applications for variation of permission (VOP) to the Financial Conduct Authority (FCA) in connection with the implementation...more

1/13/2014 - AIFMD FCA UK

HM Treasury Identifies Potential Changes to AIFMD Authorisation Requirements for U.K. AIFMs

This alert will be of particular relevance to U.K. alternative asset managers, preparing to submit variation of permission applications to the U.K. Financial Conduct Authority in relation to the Alternative Investment Fund...more

12/20/2013 - AIFM AIFMD EU Financial Conduct Authority Proposed Amendments UK

U.K. Autumn Statement 2013

The Chancellor of the Exchequer today delivered a 130-page Autumn Statement that contained a number of surprises, as well as expected updates on areas such as partnership taxation....more

12/6/2013 - Business Taxes Corporate Taxes Limited Partnerships Loans Partnerships Self-Employment Tax UK

U.K.-Cayman IGA Signed

The United Kingdom (U.K.) has published an agreed intergovernmental agreement (IGA) with the Cayman Islands. The IGA was signed on 5th November and is intended to improve international tax compliance by providing for domestic...more

11/7/2013 - Compliance IGAs International Tax Issues Tax Treaty UL

AIFM Remuneration Code Guidance

Summary - The UK’s Financial Conduct Authority (“FCA”) has published draft guidance on the application of rules on remuneration (the “AIFMD Remuneration Rules”) to FCA-authorized firms, once they become authorized as...more

9/10/2013 - AIFM AIFMD FCA Remuneration UK

Fund Board Meetings in the United Kingdom

The Background - As part of the Budget 2013, U.K. Treasury announced the U.K.’s investment management strategy. The strategy is aimed at enhancing the U.K.’s position as a global leader in the investment management...more

8/29/2013 - Board of Directors Fund Managers UK

AIFMD Update: U.K. Complies with Remuneration Guidelines

The U.K. Financial Conduct Authority (FCA) has written to the European Securities and Markets Authority (ESMA) to confirm that the FCA will comply with the ESMA guidelines relating to remuneration policies under the...more

8/9/2013 - AIFM AIFMD EEA ESMA Financial Conduct Authority Notice Requirements Remuneration

AIFMD Transitional Relief in Germany, Ireland, Luxembourg, Netherlands, Sweden and the United Kingdom

The Alternative Investment Fund Managers Directive (AIFMD) is due to take effect in member states of the European Economic Area (EEA) on July 22, 2013. Some EEA member states (including Germany, Ireland, Luxembourg,...more

7/11/2013 - AIFM AIFMD EEA EU Foreign Investment Foreign Markets Investment Funds Investors Private Placements UK

AIFMD Update – German Private Placement Rules

Our Investment Funds group has received an update on the changes to the private placement rules for marketing of alternative investment funds (“AIFs”) in Germany following the implementation of the Alternative Investment Fund...more

7/5/2013 - AIFM AIFMD Banks Compliance EU Foreign Banks Foreign Investment Investment Funds Private Equity Private Equity Funds Private Placements

U.K.’s Financial Conduct Authority Publishes Final Rules On AIFMD Implementation

The U.K.’s Financial Conduct Authority (FCA) has published today, a policy statement that sets out its responses to the various consultations that have been undertaken in respect of the rules to be adopted by the FCA to...more

7/1/2013 - AIFMD Alternative Investment Funds ESMA EU False Claims Act Safe Harbors

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