Having trained as an economist, she has over 20 years experience in the OFT and has held a number of senior positions since Over the last few years Ann has specialised in running CA98 investigations. His early career was with the Treasury and the Monopolies and Mergers Commission. Prior to joining OFT in , Nelson worked at Clifford Chance, where he served as a senior associate specialising in mergers and other competition cases.
Sheldon is a qualified solicitor and served as a senior associate in King and Wood Mallesons SJ Berwin and associate in Jones Day in his earlier career. Carole previously held legal advisory and policy roles at the sectoral regulators ORR and Ofwat, having trained as a solicitor at Beechcroft Stanley.
Her early legal training was with prominent law firms in Germany and Brussels. Jason has a particular specialism in UK consumer law. Some asset managers are worried about their ability to comply with these new disclosure requirements. It has also been reported that French manager, Arbevel, is in discussions to acquire the fund business of Actis.
In September it was announced that Patrizia, the German real estate manager, had agreed to acquire Whitelm Capital, an infrastructure fund specialist, from Fidante Partners part of the Challenger group and staff. We can probably expect these trends to continue as managers look to achieve synergies, diversify into new products and asset classes and achieve better distribution channels. As mentioned above, fundraising activity remains strong across the private fund and listed fund sectors both new issues and secondary raises.
A significant number of these new funds are targeting investment in renewables and related infrastructure. The consequences of climate change for the mining sector are informed by a complex and evolving dynamic. In this series of articles, we have explored some significant changes to the external and internal environments in which your organisation operates. United Kingdom January 13, In assessing such state aid, the Commission is supportive of measures which aim to clear impaired assets from banks' balance sheets.
To minimise the inevitable distortions on competition, the Commission emphasises the need for a common and co-ordinated Community approach to ensure consistency between member states in the measures they adopt. The Commission states that member state co-operation before measures are adopted will limit the need for intervention by the Commission after state aid notifications have been made.
To assist co-operation, the Commission sets out its own common guidance on the basic features that relief measures should contain to minimise adverse effects on competition and the single market. These features include:. Applications for aid should be subject to full prior disclosure of impairments by eligible institutions on the assets which will be covered by the relief measures.
Banks ought to bear the losses associated with impaired assets to the maximum extent. Clawback provisions should be used where it is not possible to achieve full burden sharing beforehand.
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