UK Regulation of Private Funds: Key Themes for Managers in 2020

We hope that all clients, friends and their colleagues and families are keeping well in these unprecedented times. Many of the legislative developments that we discussed in our 2019 Summer Bulletin have now either come into effect (e.g., the Senior Managers and Certification Regime (“SMCR”)) or have been finalised and will come into effect in due course (e.g., the revised prudential rules for investment firms). This Alert provides a high-level overview of the key regulatory developments that private fund managers ought to be thinking about and preparing for in 2020. It also sets out some key points for firms to consider regarding the impact of the COVID-19 pandemic and the UK regulator’s expectations in these circumstances. Continue reading