Asset Manager Slips From UK Regulators' Grasp With Reorg

Law360, London (June 6, 2019, 8:16 PM BST) -- A London judge signed off on Man Group PLC’s plan to reorganize under a Jersey holding company, putting the British hedge fund manager’s billions of dollars of managed assets beyond the reach of U.K. regulators.

In a written ruling released Wednesday, High Court Judge Richard Snowden said he was satisfied that a majority of shareholders were in support of the plan and that applicable laws for the reorganization had been followed.

Man Group PLC, which had $112.3 billion funds under management as of March 2019, announced the proposed change to its corporate structure back in October.

“It is said by the...

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