This chapter of Global Legal Insights Fund Finance 2019 considers a number of key structural and documentary legal issues that should be considered by any manager thinking about entering into derivatives transactions at fund level.
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Andrew Ross and Sarah Quy discuss a case where the court emphasised the public interest in honouring private rights.
This article provides a comparison between the French and English systems for competition law dawn raids. It sets out the practical differences concerning the authorization regimes, the investigation and the applicable appeals procedures.
There is much for funds to be positive about in the latest draft of the rules taxing non-residents on gains from UK land. In particular, the transparency and exemption elections are included in roughly the form expected, and HMRC has clearly listened carefully to concerns raised by the industry.
Doug Bryden and John Buttanshaw write for Who's Who Legal on Responsible investment.
The pensions industry is starting to realise the value of diversity and inclusion in pension scheme trustee boards and beyond. This is about more than reflecting the diversity of pension scheme beneficiaries amongst trustee directors: the evidence is clear that diverse groups, which work well together, are better at making good decisions.
In this issue, the article considers a selection of the more significant or interesting FCA and PRA enforcement actions published between 1 June 2017 and 30 June 2018 in order to identify common themes and lessons that can be learnt by firms and individuals.
In this In Practice article, the author highlights some of the key challenges posed by a sponsor affiliate being a lender in a club or syndicated loan transaction, and discusses practical approaches to limiting the associated risks for third party lenders.
In this In Practice article, the authors consider the variety of debt financing solutions which can determine the quality of a bid in a competitive auction process, together with a focus on the use of interim facilities.
In this In Practice article the authors consider the practical issues faced by practitioners and deal counterparties in structuring and executing leveraged buyout transactions where the target company is regulated by the Financial Conduct Authority and/or Prudential Regulation Authority.
From conflicts of interest to subscriptions lines, lawyers flag up the five issues most likely to trigger court action to Victoria Robson.
Andrew Ross and Sarah Quy examine the background to rights to light and how a development can proceed where such rights exist.
This chapter of Global Legal Insights Fund Finance 2018 considers a number of key structural and documentary legal issues that should be considered by any manager thinking about entering into derivatives transactions at fund level.
Sam Kay writes about the UK Investment Management Strategy.
It has been settled HMRC practice for some time now that the 1.5% stamp charge set out in FA 1986 in relation to the issue and transfer of UK shares to clearance services and depositaries was restricted by EU law, such that it should arise only on the transfer of shares which were not integral to the raising of capital for the company in question.
JIBFL: In Practice - Changes to the legal and regulatory landscape for fund-level derivatives transactions
This article considers how certain alternative investment funds (currently those managed by a manager authorised under the Alternative Investment Fund Managers Directive and potentially, in future, all EU alternative investment funds) may need to update their legal documentation in order to margin (exchange collateral on) their derivatives transactions. It also touches upon whether alternative structures are available to allow funds to execute their risk management strategies without the need to margin.