Schulte Roth & Zabel LLP (LexBlog United Kingdom)

Are the US advertising rules important for all UK managers? As U.S. advertising rules fall under U.S. anti-fraud statutes, whether a U.K. fund manager is registered with the SEC or not, there are specific rules managers need to comply with for their U.S. marketing materials. In this SRZ FAQ video, special counsel Brad Caswell discusses...

On 23 June 2016, the British public voted to leave the European Union after 43 years of membership. Although the results of the referendum are not binding in law and there remains a possibility of a constitutional challenge, the early indications from Prime Minister Theresa May and leading figures within the ruling Conservative Party are...

As the hedge fund regulatory landscape evolves, U.K. regulators’ areas of scrutiny are in many cases similar to those of U.S. regulators, though with some differences of emphasis, detail and modus operandi. The key regulatory risk factors for U.K. hedge fund managers currently include outdated documents, general complacency, insufficient accountability and attempts at transferring responsibility..

The Cayman Islands (along with the United Kingdom, Ireland, Jersey, Guernsey, the British Virgin Islands and over 70 other countries) has committed to implementing the OECD Common Reporting Standard (“CRS”), which will require investment funds to collect tax identification and tax residency information from all new subscribers and transferees (including debt-holders and equity-holders) who become.

The United Kingdom has signed intergovernmental agreements (‘IGAs’) with its Crown Dependencies and Overseas Territories in order to improve compliance with UK tax laws, a regime often referred to as ‘UK FATCA’. The jurisdictions that are part of the UK FATCA regime (‘UK IGA jurisdictions’) include a number of common investment fund jurisdictions, such as...

In a previous post dated 8 April 2014, we described certain registration and compliance requirements for hedge funds and hedge fund managers under the US Foreign Account Tax Compliance Act (“FATCA”). On 22 April 2014, HM Revenue & Customs (“HMRC”), the UK tax authority, issued a supplementary update to its guidance on the position of UK...

In May 2013, HM Revenue and Customs (“HMRC”) consulted on proposals in two areas to tackle perceived tax avoidance via partnerships. The first area was disguised employment in Limited Liability Partnerships (“LLPs”) and the second was the tax-motivated allocation of business profits and losses in partnerships (including LLPs), especially profit allocations to the corporate member...

HM Treasury, which is the legislative body responsible for implementing the Alternative Investment Fund Managers Directive (“AIFM Directive”) into UK law, has just published a Q&A document on proposed amendments to the draft regulations “for the implementation of the AIFM Directive in the UK (the “Q&A Document”). The Q&A Document clarifies that HM Treasury will...