The Guidelines Monitoring Group (GMG) has published a Consultation Paper setting out proposed amendments to the Walker Guidelines (the Guidelines) to reflect changes introduced by the Companies Act 2006 (Strategic Report and Directors’ Report) Regulations 2013. In relation to Alternative Investment Fund Managers (AIFMs), the GMG proposes:
- not to amend the Guidelines to take account of any additional disclosure requirements under the AIFM Regulations 2013; and
- to include a new paragraph 11 in Part V of the Guidelines explaining that the GMG will not expect firms that are not within the scope of the Alternative Investment Fund Managers Directive to provide any additional information required by the transparency requirements of the AIFM Regulations 2013. Part V will also include new tables showing the interaction between the Guidelines and the additional disclosure requirements of regulation 39 (Disclosure in case of acquisition of control) and regulation 42 (Annual report of AIFs exercising control of non-listed companies) of the AIFM Regulations.
The deadline for responding to the Consultation Paper is 30 June 2014.