Business and Other Briefings

FSA: The Financial Services Authority (FSA) has published its feedback to Discussion Paper 06/6 Private Equity: A discussion of risk and regulatory engagement, which examined the impact that growth and development in the private equity market has on the FSA's regulation of the UK's wholesale markets.

The most significant risks that the FSA continues to focus on in relation to private equity are those posed by market abuse and conflicts of interest.  These will remain key areas of regulatory focus and the alternative investments supervision team will be conducting further work in relation to conflicts of interest in private equity firms.

Also, the International Organisation of Securities Commissions (IOSCO) has commissioned a taskforce to assess the impact of recent developments in the private equity market and identify issues which can be addressed within its remit.  The FSA will be chairing the work of this taskforce.

Press release ~ Feedback Statement on DP06/6 'Private Equity - A discussion of risk and regulatory engagement'~ International Organisation of Securities Commissions (IOSCO)
 

ECGDExport Credits Guarantee Department, the UK's official export credit agency, has announced simplified & more flexible rules for UK exporters looking for support for contracts involving non-UK firms. Changes to ECGD's rules are set out in the Government's Response to a public consultation on foreign content, which has just been published.

The main points of the new rules are:

Press release ~ ECGD Revisions to Policy on Foreign Content

HMRC: Revenue & Customs Brief 45/07

This Brief gives details of an article: VAT:Partial Exemption-VAT deduction by theatres on production costs.

HMRC: Revenue & Customs Brief 44/07

This Brief gives details of an article : Litigation & Settlements strategy (LSS).

HMRC: Revenue & Customs Brif 43/07

This Brief gives details of an article :Follow up to Revenue & Customs Brief 37/07 on Biofuels Simplification.

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