Following the FCA’s consultation Policy Statement 13/3, the Unregulated Collective Investment Schemes And Close Substitutes Instrument 2013 took effect from 1 January 2014. The instrument prohibits FCA authorised firms from promoting “non mainstream pooled investments” (NPMIs) to retail investors, with limited exceptions. Here’s a reference …

This is an introduction to the legal structure of Enterprise Investment Scheme (EIS) funds. It’s for investment professionals who are considering setting up a new fund, and for prospective investors who want to understand the mechanics of what’s involved. Like any fund, the purpose of an EIS fund is to give investors the benefit of the skills and …

The following is adapted from a discussion board on AccountingWeb. Question: I have a client company which comprises two directors. One owns 2/3 shares and the other the remaining 1/3 shares. The company has bought a property which potentially could be developed into residential units. The minority shareholder will be introducing 1/3 of the purchase …

A survey carried out by fund and corporate law firm LCN Legal has revealed that less than half of Enterprise Investment Scheme fund managers have registered their names as trade marks with the UK Intellectual Property Office. 53% have not, which means that it may be more difficult for them to prevent others from trading off their reputation. Paul Sutton, …

This introduction is for people who are considering setting up a UK fund using the traditional structure of an English limited partnership. This is only one of a range of legal structures which can be used, but it is a tried and tested model. The structure is summarized in the diagram below. This particular one is for a real estate fund, but very similar …