• (Live Face to Face and Zoom) Listing of Pre-revenue Biotech Companies

    As scientists race to develop a vaccine and novel therapies to combat the COVID-19 pandemic, investors are looking into the investment return in biotech and pharmaceutical companies. In recognition of the high demand for equity finance in the biomedical industry, HKEx incorporated three new chapters into the Listing Rules on 30 April 2018.  The new policy aims to allow listing of pre-revenue biotech companies on the HKEx Main Board. In addition, a new secondary listing route has been introduced for innovative companies listed on the NYSE, NASDAQ and LSE.

    Our speaker will walk you through the new listing rules in Chapter 18A and the respective guidance letters issued by HKEx. The course will give you a good understanding of the regulatory framework of biotech company listings.

    30 Sep, 2020

  • All About Private Equity Management Fees and Expenses

    This seminar will help private equity (PE) fund managers on the disclosure issues and conflicts of interest associated with fund fees and expense allocations. We’ll discuss best practices in administration and reporting that will help you with investors’ due diligence.

    Findings from examinations of PE advisers revealed that the most common deficiencies were related to fees and expenses charged by managers of portfolio companies. Specific deficiencies included payments to consultants, shifting expenses during the fund’s life, allocation of expenses and hidden fees.

    Global regulators continue to focus on fees, expenses and conflicts of interest inherent in the PE manager role. Fund managers who fail to properly disclose fees, expenses and conflicts of interest to their investors not only fail to get funded, they are subject to substantial fines and disciplinary actions. We’ll discuss case studies designed to provide guidance to fund managers regarding practices to avoid, and best practices for full disclosure.

    In reviewing current or prospective fund investments, your prospective investors will question you about fee and expense allocations. Funds that do not satisfy investor questions or concerns face the risk of enforcement activity and potential investor litigation.

    Mr. Peterman will discuss fund fee and expense allocation deficiencies and the specific practices identified as problematic. He will also discuss best practices for reporting fees and expenses and due diligence for investors evaluating current and prospective investments.

    02 Apr, 2019