The Guidelines Monitoring Group (GMG) has recently been consulting on its proposed amendments to Sir David Walker’s guidelines for disclosure and transparency in private equity (the Guidelines). The GMG has now published a feedback statement together with a revision to Part V and Annex D of the Guidelines which sets out the enhanced reporting requirements for portfolio companies and private equity firms.
The amendments implement the Department of Business, Innovation and Skill’s new narrative reporting regulations that came into effect in October 2013.
The GMG has asked PriceWaterhouse Coopers to examine the compliance of a sample of portfolio annual reports with the updated Guidelines for September 2014 year-end onwards. The GMG’s first report on compliance with the updated Guidelines will be issued in December 2015.