Legal & Regulation

The UK Court of Appeal has today handed down judgment in a case which considers the circumstances in which an individual who enters into a members' agreement in a limited liability partnership may be considered to be an employee. Jonathan Exten-Wright, employment partner, DLA Piper explains… »

The UK Financial Services Authority (FSA) has fined Ravi Shankar Sinha GBP2.867 million for fraudulently obtaining GBP1.367 million for himself from a company owned by a private equity fund advised by JC Flowers by means of a fictitious invoicing scheme. »

Octopus chief executive Simon Rogerson (pictured) has welcomed the UK Court of Appeal’s decision to uphold the ruling that the DECC’s changes to the subsidy for solar installations, is unlawful. »

The European Commission last week proposed a directive to regulate venture capital funds. David Blair (pictured), Head of Regulation at law firm Osborne Clarke, says the new proposals will hinder rather than benefit venture capitalists… »

The High Court in London has ruled that Hellas Telecommunications (Luxembourg) II SCA, a Luxembourg finance company forming part of the Hellas Group, should not be dissolved following the end of its administration but that a liquidator should be appointed to investigate the affairs of the Company prior to its administration.   »

By Commissioner Scott D O’Malia - The Commodity Futures Trading Commission (the “Commission”) has confirmed that our Division of Enforcement is investigating MF Global, Inc. (“MF Global”) for possible violations of the Commodity Exchange Act (“CEA”) and/or Commission regulations. I fully support the Commission’s efforts to conduct a thorough investigation to determine what happened with the customer funds, how we can return all customer funds as soon as possible, and punish any wrongdoing. »

Munib Ali, director at PwC, on the European Commission’s (EC) release of the Market in Financial Instruments Directive (MiFID) II proposals… »

Monique Melis, a Member at financial advisory firm Kinetic Partners, on the sentencing of Raj Rajaratnam to 11 years in prison for insider trading… »

The Swiss Funds Association SFA supports the primary objectives of the partial revision of the Swiss Federal Act on Collective Investment Schemes (CISA). As part of the revision processes, it has submitted specific proposals for improvements aimed at safeguarding the competitiveness of Switzerland as an asset management location. »

More than 125 delegates at the Channel Islands Funds Forum, held at the Hotel de France on 28 September and sponsored by KPMG, heard from a number of expert speakers that EU and US laws coming into force over the next few years will significantly increase the burden of regulation. »