News/Regulation
Tax authority demands Nordic Capital execs repay SEK 412m
Nordic Capital executives have been ordered to repay SEK 412m in carried interest tax, after the Swedish tax authority reached a final verdict in a lengthy investigation.
Norway joins carried interest tax push
The Norwegian tax authority will classify carried interest as standard income, putting a few hundred million NOK of carried interest at risk.
EU Commissioner disregards AIFMD lobbying efforts
Lobbying efforts from the alternative investments sector will not have a major influence on upcoming EU regulation, says an EU commissioner.
Swedish compromise on carried interest taxation
The Swedish Ministry of Finance has proposed that a proportion of carried interest be taxed as standard income, after which any proceeds are taxed as capital gains.
Trade bodies urge EU to reconsider pensions directive
EVCA and other European trade associations have released a joint statement urging the EU to reconsider plans for occupational pensions.
BVCA calls for more support for entrepreneurs
Ahead of the 2012 budget, the BVCA voices its concerns about the key issues in private equity.
EU due to issue white paper on pensions directive
The European Commission will release a white paper in reaction to technical advice for the IORP Directive.
Volcker responds to Dodd-Frank criticism
Paul Volcker has argued in a response paper that private equity investments should be separated from commercial banking activities.
Swedish parliament debates limiting PE investments
The role of private equity ownership in the welfare sector has sparked debate in the Swedish parliament, with the opposition party calling for tougher rules on the industry.
FSA criticises MiFID revision
The Financial Services Authority has remarked that the current draft of the MiFID could be harmful to AIFs.
Jersey launches private placement scheme
Jersey has introduced a private placement scheme for institutional and professional investors.
AIFMD moves EQT funds onshore
EQT has announced that it will domicile its next fund within the EU.
Miliband calls for tougher takeover code
Labour leader Ed Miliband has pressed for stricter takeover rules in the UK, threatening the flexibility of investment strategies.
EU proposes venture capital-friendly fundraising rules
New EU Action Plan proposes to increase funding of SMEs with the help of venture capital funds.
Industry comments on ESMA's AIFMD advice
European regulator ESMA has published its final technical advice to the European Commission on the AIFMD's Level 2 implementing measures.
Nordic Capital wins tax case
The tax board has rejected the claims of the tax agency regarding Nordic Capital’s taxing of profit sharing between 2006 and 2007.
AIFMD passes final vote
The controversial AIFM Directive was adopted in a plenary vote of the European Parliament today.
Swedish PE-firms facing tax investigation
Skatteverket, the Swedish Tax Office, has launched an investigation into the declaration of tax by eight of the largest Swedish private equity firms, according to reports.
Legislators agree on final text for AIFM
European legislators have finally agreed on the Alternative Investment Fund Manager’s Directive (AIFM).
Finance ministers agree to AIFM passporting
Finance ministers last night reached an agreement over the shape of the Alternative Investment Fund Managers (AIFM) Directive.
EU minister hails “major step” on third country rules
European politicians have made a “major step” forward in agreeing the final form of the Alternative Investment Fund Managers’ (AIFM) Directive, according to Belgium’s finance minister.
Central banks agree Basel III rules
Central bank governors have agreed new capital requirements for banks as part of Basel III.
AIFMD vote delayed yet again
The vote, initially scheduled for the week of 20 September, is now likely to take place in October, according to a French senior lawmaker.
AC Desarollo takes majority stake in Vaughan Systems
AC Desarollo, the private equity investment arm of Ahorro Corporación, has acquired a controlling stake in Vaughan Systems, a Spanish provider of commercial English language training services.