All Things FinReg

The UK government has been pursuing a pro-growth agenda as one of its core missions, which has resulted in consultations on lighter-touch regimes to encourage investment, and the regulations which govern alternative investment fund managers (AIFMs) are next on its list.

As many are aware, Congress passed its own version of the US Securities and Exchange Commission (SEC) staff’s mergers and acquisitions (M&A) broker no-action letter in December 2022, creating a new exemption from broker registration in Section 15(b)(13) of the Exchange Act that largely tracks the SEC staff’s no-action letter, with one important tweak.