Tax and legal concerns mount

There was no coordination between tax and regulatory authorities when governance rule suspensions came in last spring. Those suspensions will now have to be renewed. This could cause funds and their directors tax and legal nightmares.

The pandemic has turned the world upside and, as a result, everyone is making it up as they go along, including regulators. Now it appears that the pandemic will be with us for at least the foreseeable future it would make sense for industry, regulators and tax authorities to coordinate efforts to help everyone get through to the other side.

Without any form of coordination there could be some nasty surprises around the corner. These may come on the tax or legal fronts, or perhaps both.

To read more on this story see the October issue of The NED.