Sebi amends AIF rules; investors to have pro-rata rights in investments, proceeds distribution, ET LegalWorld
Markets regulator Sebi has amended Alternative Investment Funds (AIF) rules directing them to grant investors’ rights in investment and distribution of proceeds in proportion to their commitments in a scheme. In simple words, risks as well as rewards from investments made by an AIF scheme need to be shared in proportion to investors’ contributions to […]
Proceeds of crime: Uyghur v NCA – and how it could affect law firms
In its recent judgment in World Uyghur Congress v National Crime Agency, the Court of Appeal addressed the application of the money laundering provisions of the Proceeds of Crime Act 2002 (POCA) in the context of international supply chains. The appeal court’s clarification of the scope of the ‘adequate consideration’ exemption under POCA has wide-reaching […]