Partner William Yonge spoke to Hedge Fund Law Report about the UK Financial Conduct Authority’s (FCA) recent decision in relation to an alleged violation of Principle 8 of the FCA’s Principles for Business. William said, “in this case, the FCA found that the very existence of the Internal Fund was not disclosed to due diligence consultants or any investors in the External Fund.” He added, “conflicts disclosure in offering memoranda for external funds should address clearly any conflicts that do or might arise from such a situation and should not be misleading.”
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