Legal & Regulatory Bulletin – Issue No. 25, Spring 2018
This Bulletin contains practical guidance for industry investors, managers, practitioners and policy makers. It provides a thoughtful analysis of why it’s critical to get the governance right at private companies, flags imminent changes to the Cayman Islands anti-money laundering (AML) regime, clarifies changes in the private fund environment in Brazil and assesses the impact of India’s infrastructure investment trusts.
- Getting Governance Right – what do private equity investors really want? If corporate law fails to provide the perfect precedent, how does one create the right governance environment for sound decision making in private equity-backed companies and influence policy change?
- What do the 31 May 2018 changes to the Cayman Islands’ AML Regime mean for financial service providers including closedend and unregulated open-end investment funds and insurance entities? What is the background for the changes, how does one move to full compliance and what are the new criminal and administrative consequences of non-compliance?
- What is the government of Brazil signaling and what do the 8 April 2018 measures relating to the taxation of private equity funds (FIPs) and new rules defining and clarifying FIPs and nonFIPs mean? How does clarifying the nature and taxation of a private investment entity impact past practices related to family assets and wealth planning while inviting private capital and venture investment?
- What are the key considerations and implications for Indian infrastructure investment trusts under SEBI regulations intended to attract investment towards India’s infrastructure needs? With a review of structuring, entity formation and capital raised throughprivate placement and special purpose vehicles, might there be a signal for future and significant uptake in these structures?