The Private Equity Reporting Group (formerly the Guidelines Monitoring Group) has published its eighth annual report on disclosure and transparency in private equity, assessing conformity with the Walker Guidelines. The report notes that 2015 was the first reporting year in which portfolio companies were required to comply with new reporting obligations, following amendments to the Walker Guidelines in July 2014 to reflect the replacement of the business review with the strategic report requirement. The report sets out PERG’s key findings and notes PERG’s intention to publish an updated Good Practice Guide in early 2016. PERG states that it will continue to review the quality of private equity firms' disclosures about their own activities and monitor firms in light of developing European legislation and regulation.