The European Securities and Markets Authority (‘ESMA’) published its first set of advice to the European Parliament, the Council and the Commission in July 2015 on the extension of the AIFMD marketing passport to six non-EU countries (Guernsey, Hong Kong, Jersey, Switzerland, Singapore and the United States).

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On 30 July 2015, the European Securities and Markets Authority (‘ESMA’) published its advice to the European Parliament, the Council and the Commission on the extension of the marketing passport to non-EU alternative investment managers (‘AIFMs’) and alternative investment funds (‘AIFs’) under the EU Alternative Investment Managers Directive (‘AIFMD’). The marketing passport is currently only

A new regime governing the distribution of non-Swiss funds to Swiss investors comes fully into force on 1 March 2015, when the current transitional period expires.

The new regime segments Swiss investors into three categories: (1) unregulated qualified investors (pension plans, corporates, family offices, family trusts and high-net-worth individuals); (2) regulated qualified investors (a more

A new regime governing the distribution of non-Swiss funds to Swiss investors comes fully into force on 1 March 2015, when the current transitional period expires.

The new regime segments Swiss investors into three categories: (1) unregulated qualified investors (pension plans, corporates, family offices, family trusts and high-net-worth individuals); (2) regulated qualified investors (a more

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

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