Fund Managers

UK Treasury Plans to Extend AIFMD Transition Period for Non-UK Fund Managers

by Jeffrey D. Collins, Diana W. Lo | Foley Hoag LLP on 5/20/2013

The HM Treasury has issued a Q&A in which it suggests upcoming changes to the timetable for implementing the Alternative Investment Fund Managers Directive (the “AIFMD”) in the United Kingdom. The HM Treasury is the UK...more

UK Extends AIFMD Transitional to Non-EEA Fund Managers

by Tim Aron | Katten Muchin Rosenman LLP on 5/16/2013

On April 29, HM Treasury issued a Question and Answer publication which stated its intention to extend the transition period of the Alternative Investment Fund Managers Directive (AIFMD) to existing third-country Alternative...more

Corporate and Financial Weekly Digest - May 10, 2013

by Katten Muchin Rosenman LLP on 5/13/2013

In this issue: - SEC Roundtable Discusses Current Securities Law Topics at 33rd Annual Ray Garrett Jr. Corporate and Securities Law Institute - SEC Reopening Comment Periods for Certain Rulemaking Releases and...more

What Every Private Equity Fund Manager Should Know About ERISA

by The R. Bernard Law Group on 4/26/2013

What is ERISA? The Employee Retirement Income Security Act of 1974 (“ERISA”) protects the interests of employee benefit plan participants by establishing strict standards of conduct for “plan fiduciaries” – i.e.,...more

"SEC Staff Warns That Advisers May Be Required to Register as Broker-Dealers"

by Lauren Heller, Anastasia T. Rockas | Skadden, Arps, Slate, Meagher & Flom LLP on 4/23/2013

On April 5, 2013, David W. Blass, Chief Counsel of the Securities and Exchange Commission’s Division of Trading and Markets, addressed the American Bar Association’s Trading and Markets Subcommittee.1 Mr. Blass’ remarks...more

Recent SEC Actions Focus on Broker-Dealer Activity of Private Funds, Highlight Perils, and Generate Controversy

by Elliott Curzon, Carl de Brito, Edward Pittman, Kevin Scanlan, David A. Vaughan, Kenneth E. Young | Dechert LLP on 4/22/2013

A recent public statement by a member of the senior staff (“Staff”) of the Securities and Exchange Commission (“SEC”) and recent SEC enforcement actions have reminded private equity and other private fund managers (such as...more

All Fund Managers Marketing in the European Union Must Take Note: First Deadline Under European Union Alternative Investment Fund...

by Jeffrey D. Collins, Meredith Haviland | Foley Hoag LLP on 4/9/2013

The first compliance date under the European Union’s recently adopted Alternative Investment Fund Managers Directive (the “AIFMD”) is July 22, 2013....more

FATCA Compliance for Investment Fund Managers Part One

by Christopher Cawley, Nicola Lemay, Richard Schaul-Yoder | Foley Hoag LLP on 4/2/2013

U.S. Funds with Only U.S. Investors - FATCA, the new U.S. tax regime designed to combat offshore tax evasion by U.S. taxpayers, will go into effect on January 1, 2014. As a fund manager, you will be required to ensure...more

Financial Services Quarterly Report - First Quarter 2013: The Regulation of Managers and Funds in France Following the...

by Olivier Dumas | Dechert LLP on 3/30/2013

The French financial regulator, the Autorité des Marchés Financiers (“AMF”), hosted a public presentation on 17 January 2013 for French asset management industry professionals, regarding the implementation of the Alternative...more

Application of the Self-Employment Tax and 3.8% Net Investment Income Tax to Fund Managers

by Robert Cudd, Michelle Jewett | Morrison & Foerster LLP on 3/7/2013

With the imposition of a new 3.8% “net investment income tax” (the “NIIT”) pursuant to Section 1411 of the Internal Revenue Code of 1986, as amended (the “Code”) on passive income and the imposition of an additional .9% on...more

Australia's "Significant Investor Visa" Creates Opportunities for Fund Managers

by Jim Bulling, Daniel Knight | K&L Gates LLP on 3/1/2013

The Australian Government is looking to encourage foreign investment into Australia through the introduction of a new visa pathway for individuals who make substantial investments in Australia. The "Significant Investor Visa"...more

SEC Announces 2013 Examination Priorities for the Investment Management Industry

by Ropes & Gray LLP on 3/1/2013

The SEC’s Office of Compliance Inspections and Examinations (“OCIE”) has published its list and discussion of examination priorities for the investment management industry in 2013, which includes both market-wide initiatives...more

BVI & Cayman Investment Funds Comparison Overview

by Harney Westwood & Riegels on 2/27/2013

This table provides a basic comparison of key features of BVI and Cayman investment funds in areas including legal structures, types of funds available and regulatory issues. Updated February 2013. Please see full table...more

CFTC 4.13(a)(3) Annual Affirmations Due by March 1st

by Jeffrey D. Collins, Meredith Haviland, Diana W. Lo | Foley Hoag LLP on 2/25/2013

As a reminder, fund managers relying on the exemption from registration with the U.S. Commodity Futures Trading Commission (the "CFTC") set forth in Rule 4.13(a)(3), commonly referred to as the “de minimis exemption,” must...more

ESMA Issues AIFM Remuneration Guidelines

by Tim Aron, Edward Black | Katten Muchin Rosenman LLP on 2/20/2013

On February 11, the European Securities and Markets Authority (ESMA) published final guidelines (Guidelines) on remuneration of alternative investment fund managers (AIFMs). The Guidelines follow from, and add detail to, the...more

Focus On British Virgin Islands Regulation

by Philip Graham | Harney Westwood & Riegels on 2/19/2013

Originally published on HFM WEEK.COM - 31 JAN - 6 FEB 2013. As a new ‘regulation light’ fund manager regime is launched in the British Virgin Islands, eligible fund managers can now count on a simpler application...more

Door to PRC Domestic Funds Market Nudged Open?

by Angelyn Lim | Dechert LLP on 1/29/2013

While Hong Kong's retail market remains dominated by European Undertakings for Collective Investment in Transferrable Securities (UCITS) (up to about 70% of the funds authorised in Hong Kong for retail distribution are...more

After the Love is Gone – Tax Planning Considerations for Private Equity and Venture Capital Fund Managers in a Post-Carried...

by Gerald Nowotny on 1/28/2013

Overview - The issue of carried interest taxation as obscure an issue as it is, has gotten all kinds of attention in the media over the last several years. Most recently, the issue garnered national attention during...more

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