Summary: The FCA is to be commended in producing comprehensive and pragmatic guidance, the effect of which will be both to delay the full impact of the code on UK AIFMs and to reduce its scope by applying the proportionality principles. There are many relatively smaller AIFMS who will benefit from this approach.
Meanwhile the opportunity to comment on the FCA guidance remains open until November 6, and, in particular, AIFMs are likely to have views on the FCA's suggested threshold for disapplying the pay-out process rules.
Also of Interest
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- Kaye Scholer Advises Bregal, Motion Equity in Morrison Utility Services Sale November 7, 2016 • Client Successes
- Culhane Quoted in Private Funds Management on Fund-Related Legal Fees October 25, 2016 • Media Mentions
- IFLR1000 Recognizes Kaye Scholer’s Global Presence, Practices and Lawyers October 19, 2016 • Recognitions
- Kaye Scholer Advises Veracen on Merger of Equals with Turner Investments August 31, 2016 • Client Successes
- Kaye Scholer Practices and Attorneys Recognized by Chambers USA 2016 May 31, 2016 • Recognitions
- Tax Alert: Proposed Regulations May Disrupt Intercompany Debt Practices May 12, 2016 • Client Alerts