GMG consults on private equity transparency: GMG, set up to monitor the private equity industry's compliance with the Walker Guidelines for the Disclosure and Transparency in Private Equity is consulting on changes to bring the Guidelines in line with The Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013. These Regulations removed the requirement for a business review in the directors' report, moving its content to the strategic report, which will now also require disclosures on business model, gender diversity and human rights. GMG has also decided that the Guidelines are not affected by AIFMD. A section of the Guidelines explains how they and AIFMD interact in relation to annual reports and disclosures required on acquisition of non-listed portfolio companies. (Source: http://walker-gmg.co.uk/sites/10051/files/gmg_guidelines-apr14_final.pdf)