Overview

This briefing from Travers Smith provides a comprehensive overview of the developments which affected the investment funds industry in 2011 and previews what can be expected in 2012. The article will be of interest to managers and investors in a wide range of alternative asset investment funds and provides detailed analysis on the following areas:

• commentary on the market;


• private equity: ILPA and no-fault divorce clauses;


• duties of independent directors of investment funds;


• privilege - the funds context;


• VAT developments in 2011;


• other UK tax developments during 2011;


• update on AIFMD;


• AIFMD-lite: European venture capital regulation;


• MIFID II and MIFIR;


• European regulation affecting fund investors;


• SEC registration;


• proprietary trading - Volcker Rule;


• bridge financing;


• CRC update;


• Bribery Act; and


• tax developments for 2012.

To read the full details on these issues and more, click 'View Briefing'.