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To explain the UK government’s long-awaited reforms to limited partnership law.

This article discusses the key updates to limited partnership law in the UK that the reforms represent and draws some conclusions as to what may lay ahead.

The article concludes that the new regime is a welcome step and one that should help the United Kingdom to remain competitive as a jurisdiction for global fund formation in the face of competition from other jurisdictions.

This article contains key details on the new limited partnership regime in the UK and guidance from experienced lawyers with specialties in investment management and public and private funds.

Describe an important recent enforcement action by the Securities and Exchange Commission (SEC) regarding expense allocations by private equity funds.

Discusses a recent enforcement action by the SEC regarding a registered investment adviser’s handling of expense allocation with respect to two private fund clients and certain of their underlying portfolio companies.

The settlement and sanctions are noteworthy because: (i) there was no suggestion that the misallocations of expenses were designed to systematically favor one private fund client over the other, that the manager benefited from such misallocations, or that the failure to allocate expenses in accordance with the policy had been deliberate and (ii) while not stated explicitly, it appears likely that a significant portion of the disgorgement related to misallocations that occurred before the manager was a registered investment adviser.

Registered investment advisers should ensure that they and their portfolio companies have written policies in place designed to fairly allocate all expenses among all entities that benefit from the activities driving such expenses and that none of the sponsor’s clients are directly or indirectly benefited or harmed from allocation policies at the portfolio company level.

Description of a noteworthy SEC enforcement action regarding expense allocation and practical guidance from investment management lawyers to remind private equity sponsors to ensure that they have adopted and implemented expense allocation policies.

The purpose of this paper is to revisit the special issue of Accounting, Auditing & Accountability Journal published in 1996 on the theme “Accounting history into the twenty‐first century”, in order to identify and assess the impact of the special issue in shaping developments in the accounting history literature, and to consider issues for future historical research in accounting.

A retrospective and prospective essay focusing on developments in the historical accounting literature.

The special issue's advocacy of critical and interpretive histories of accounting's past has influenced subsequent research, particularly within the various research themes identified in the issue. The most significant aspect of this influence has been the engagement of increasing numbers of accounting historians with theoretical perspectives and analytical frameworks.

The present study examines the content and impact of a single journal issue. It explores future research possibilities, which inevitably involves speculation.

In addressing recent developments in the literature through the lens of the special issue, the paper emphasises the unifying power of history and offers ideas, insights and reflections that may assist in stimulating originality in future studies of accounting's past.