Kathleen McLeay and Sukhjit Dhaliwal attended the EY Mid-Market Funds roundtable event on 14 June 2018. This seminar was aimed at new and existing private equity fund managers and was very well attended. Subjects covered included the corporate criminal offence of the failure to prevent the facilitation of tax evasion; changes on definition of distributions and unlawful distributions and intra group loans; Senior Managers Regime; Omnibus Directive and concluded with a presentation from Burness Paul on the use of Scottish Limited Partnerships in Fund Structures and the consultation paper currently out for response.
NCM Chief Executive, Kathleen McLeay commented “ The event was extremely useful and a great opportunity to meet new and existing managers who we could work with to assist with their fund administration needs going forward. The breadth of topics covered by the EY team demonstrated the ever changing requirements in the industry and the need to have an advisory and service team that can keep a manager up to date and allow them to do what they do best - doing deals. In particular the Burness Paul session was a good reminder to all those round the table to respond to the BEIS consultation as SLPs are a fundamental building block in many fund structures. NCM and Burness Paul have been heavily involved in the consultation process to date and we hope a large number of funds in the sector take the time to respond and shape legislation going forward.”