Private Equity And Venture Capital
Bovill provides services to a large number of clients in the private equity and venture capital sectors. These include firms who operate in both the primary and secondary sectors and are authorised to advise and arrange transactions and manage and operate funds.
We have extensive experience in helping firms in these sectors to determine whether their proposed activities are subject to FSA regulation, assisting firms in obtaining authorisation from the FSA, providing ongoing support, including the preparation of financial and non-financial regulatory returns and undertaking risk-based compliance monitoring. The investment vehicles involved in this sector are often unregulated collective investment schemes. We can provide specialist advice on the complex area of promoting and marketing of such schemes.
There are a number of regulatory issues which are of particular relevance to this sector, and which we have helped firms to resolve, including:
- meeting the FSA's expectations in identifying, managing and monitoring potential conflicts of interest;
- application of the best execution rules;
- determination of status under MiFID and the implications this has on capital requirements; and
- the implications that MiFID status has on the ability for private equity/venture capital firms to appoint other firms to distribute their funds.
Bovill works closely with a number of trade associations in the venture capital and private equity arena. We are associate members of the British Private Equity and Venture Capital Association (BVCA) and the British Business Angels Association (BBAA) and full members of the Enterprise Investment Scheme Association (EISA). Bovill is represented on the regulatory committees of both the BBAA and EISA.