Equity partner meaning

Lalone cautions that DORA’s reach remains unclear for UK alternative investment fund managers with EU clients, including hedge funds, private equity, and real estate investment funds. He highlights the growing challenges in DORA-linked contract negotiations between financial entities and their service providers. With regulators able to impose unlimited fines when EU businesses err, the financial and reputational exposure is significant. What is DORA? DORA obliges financial entities to put in place a governance and risk management framework to withstand disruptions to digital and data services arising from third parties, such as cyberattacks. Accordingly, entities must ensure contracts with information and communication technology (ICT) providers satisfy defined standards. In scope entities include investment firms Trading venues such as exchanges Fund managers Cryptoasset service companies Formally, DORA applies only to EU financial entities. However, group-wide systems and controls can ‘bleed through’ borders and influence non‑EU firms. Where a large financial group maintains an internal IT or operational risk management framework at...

In this issue Equity capital markets Daily and weekly news alerts New and updated content Dates for your diary Trackers New Q&As Useful information Equity capital markets Key points from UK prospectus regime reform consultation On 26 July 2024, the Financial Conduct Authority (FCA) released a consultation paper outlining reforms to the UK prospectus regime. The proposals have notable consequences for initial public offerings and secondary equity issuances where securities are intended to be admitted to trading on a UK regulated market, such as the London Stock Exchange (LSE) main market, or a UK multilateral trading facility (MTF), such as AIM. Written by Vanessa Blackmore, partner, Ben Perry, partner, and Matthew Triggs, practice area associate, at Sullivan & Cromwell LLP. See News Analysis: Key points from UK prospectus regime reform consultation...

Here are three international arbitration trends to watch in 2024 The international arbitration community will continue to embrace AI When ChatGPT burst into the spotlight in late 2022 and early 2023, the legal sector hummed with predictions about how it and other GenAI programmes could reshape lawyers’ daily work. Twelve months later, the din has eased, yet commentators agree the discussion will remain vigorous well into 2024. Wiley Rein LLP partner Joshua B Simmons expects professionals in the international arbitration practice area to shift from mere curiosity about AI’s ability to save time and money to putting it to work in genuinely practical ways. In his view, the coming year will see arbitration lawyers setting themselves apart through measured, sensible roll‑outs of AI that demonstrate tangible value. He also pointed to the White House executive order issued in October 2023, where the Biden administration underscored the ‘safe, secure and trustworthy development and use’ of AI. That directive introduces new benchmarks for AI safety and security with the aim...

FORTHCOMING CHANGE relating to the tax treatment of carried interest: After a call for evidence on the taxation of carried interest conducted over summer 2024, the Autumn Budget 2024 formally confirmed plans to bring in a redesigned regime for carried interest from 6 April 2026, positioned within the income tax system and accompanied by tailored provisions to reflect the reward’s distinctive attributes. A consultation then explored possible new qualifying criteria for entry to the regime, and the government published its response in June 2025. Draft legislation setting out the new carried interest rules was released on 21 July 2025, intended for inclusion in Finance Bill 2026. The regime is to apply to carried interest arising on or after 6 April 2026. These measures were reaffirmed at the 26 November 2025 Budget, which also noted that revisions had been made to the draft legislation following stakeholder input. In the meantime, ahead of commencement of the new framework, the capital gains tax rate applicable to carried interest was increased to 32%...

This Practice Note examines general partnerships established under the Partnership Act 1890. It sets out the key statutes and case law that shape the legal framework for partnerships. It also explains how to assess whether an individual is a partner, when partners may properly be regarded as employees or workers, the extent of a partner’s authority, partners’ liability for the firm’s debts and obligations, and the treatment of partnership property... Sources of partnership law The principal source of law for a general partnership governed by English law (as distinct from a limited liability partnership, a limited partnership, or a partnership incorporated under Scottish law) is the Partnership Act 1890 (PA 1890), which has remained largely unchanged for more than a century. However, it is not a comprehensive code: it expressly preserves the rules of equity and common law applicable to partnerships, except where these conflict with the express provisions of the PA 1890. Frequently, partners put in place a written agreement setting out their mutual rights and duties,...

A conversation with Diego Peralta Valenzuela, partner, and Vesna Camelio Ursic, senior associate, from Carey y Cía. Limitada on key issues regarding foreign direct investment (FDI) control in Chile 1. What is the applicable legislation? Chile’s equity foreign investment framework is principally shaped by two instruments: Chapter XIV of the Compendium of Foreign Exchange Regulations of the Central Bank of Chile (Compendium of Foreign Exchange Regulations) Law No. 20,848 The Compendium of Foreign Exchange Regulations-promulgated by the Central Bank of Chile under the authority granted by its Constitutional Organic Law-sets out the overarching rules for foreign exchange dealings. These provisions are binding on entities within the Formal Exchange Market (as defined by the Central Bank’s Constitutional Organic Law). The Compendium also extends to non-bank entities, including natural persons, and imposes certain constraints on significant cross-border exchange operations that affect Chile’s balance of payments and capital account. In particular, it mandates that designated transactions be notified in writing to the Central Bank...

This Limited Partnership Agreement is entered into on [ insert day and month ] 20[ insert year ] by and between the parties set out below. Parties [ insert name of general partner ] of [ insert address ] (the General Partner); and Each of the persons whose names are listed in Schedule 1, Part B. BACKGROUND The Limited Partnership has been registered in England as a limited partnership under the LPA 1907 with number LP [ insert number ]. The General Partner has agreed to act as the general partner of the Limited Partnership and to manage, operate and administer the business of the Limited Partnership, and the Limited Partners have agreed to make Contributions to the Limited Partnership on the terms set out below. The General Partner and the Limited Partners wish the Limited Partnership to carry on the Business and agree that the affairs of the Limited Partnership shall be regulated in accordance with...