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Junk the two-director residency rule

This would be a good time for Ireland to reform its two-director residency rule. Ideally it should do this before its new LP law comes in. The CBI’s ICAV register shows director capacity can be a problem in Ireland; the arrival of many PE funds will make that worse. Irish residency rules make no sense in the Zoom era anyway.

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Danger ahead

There is real danger of a market crisis this autumn in spite of the recent surge in equities. How well prepared are fund boards for something calamitous occurring in the months ahead?

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Covid governance problems in Lux

Continued Covid-19 restrictions this autumn are a problem for all fund jurisdictions, but especially for Luxembourg. Many who work there live in Belgium, France or Germany. Making decisions for Luxembourg funds from other countries could well run into regulatory and tax problems if it goes on for much longer.

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The role played by depositaries

There has been more focus on depositaries recently as a result of Cayman’s new Private Funds Law and the FCA’s decision to look into decisions taken by the depositary at Woodford Investment Management.

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Director selection in the Covid-19 era

Difficulties in travelling, organising physical meetings and so forth are beginning to take their toll on director selection. Covid-19 has, of course, already radically changed how board meetings are conducted; the impact of pandemic is now beginning to be felt in other areas of fund governance too – including in the processes used to select people for board positions.

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