Declan O’Sullivan

Declan O’Sullivan

Dechert LLP

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Stock Connect is Open for Business: Funds and Managers Will Soon Be Able to Trade Shanghai-Listed Equities

Regulators in Hong Kong and China recently announced the imminent launch of “Stock Connect” on next Monday, November 17, 2014. Stock Connect gives a wide array of fund managers, private investors, and other market...more

11/12/2014 - China Foreign Exchanges Hong Kong Shanghai Futures Exchange Stocks

Money Market Funds - Focus Shifts to Europe

Following the adoption by the U.S. Securities and Exchange Commission (“SEC”) of amendments to the rules governing U.S. money market funds (“MMFs”), the focus is shifting to Europe. In fact, the prospects for sensible MMF...more

10/14/2014 - EU European Commission Floating NAV Liquidity Fees Money Market Funds Redemption Gates SEC

A Borrower and a Lender Be! Irish Loan Origination Funds Move a Step Closer

Dechert commented on the Central Bank's Discussion Paper on Loan Origination by Investment Funds in our OnPoint “After AIFMD, the Central Bank turns its attention to loan origination funds” (July 2013)....more

8/8/2014 - AIFM AIFMD Foreign Banks Ireland Loans

ICAV for Christmas!

In our January 2014 OnPoint - Yes - ICAV! Irish Minister for Finance Announces New Irish Corporate Fund Vehicle - we outlined details of the proposed new Irish corporate investment fund vehicle and the enhancements that it...more

8/4/2014 - Foreign Investment Investors Ireland

Chilean Pension Funds Market Officially Open for Business for Irish UCITS.

Following Dechert’s series of reports in relation to the Chilean pension funds market and its accessibility to Irish UCITS, see Dechert OnPoint - Moody’s Upgrade Points to Reopening of the Chilean Pension Market to Irish...more

5/9/2014 - Bailout Cross-Border Equity Markets EU Fitch Foreign Markets Investment Funds Ireland Moody's Pensions S&P UCITS

UCITS V - Aligning with AIFMD!

The European Parliament voted to adopt the UCITS V Directive (“UCITS V”) on 15 April 2014, in advance of Parliamentary elections next month. The final vote followed a period of uncertainty where there was potential for the...more

4/16/2014 - AIFM AIFMD EU Financial Regulatory Reform UCITS

Central Bank brings Exempt Unit Trusts into the AIFMD net, REITs may escape, SPVs exempt for now

The Central Bank of Ireland (the “Central Bank”) issued feedback on 28 March 2014 to its consultation in relation to whether investment structures, most notably exempt unit trusts (“EUTs”), should be considered to be...more

4/2/2014 - AIFMD Banks Mortgage REITS SPVs

EMIR FX Forward Reporting Delayed as ESMA Asks European Commission to Clarify Derivatives Definition

There has been another very significant twist in the somewhat chaotic implementation of the European Market Infrastructure Regulation (EMIR) as the European Securities and Markets Authority (ESMA) has today requested the...more

2/14/2014 - Derivatives EMIR ESMA EU European Commission

Nailing the LEIs – How EMIR Trade Reporting Obligations Will Affect UCITS and Alternative Investment Funds

The European Market Infrastructure Regulation (Regulation No. 648/2012), known as “EMIR”, requires entities that transact derivatives to report prescribed details of any financial derivative instruments (“FDIs”) they conclude...more

2/10/2014 - Alternative Investment Funds Deadlines Derivatives EMIR ESMA EU Reporting Requirements UCITS

Moody’s Upgrade Points to Reopening of the Chilean Pension Market to Irish UCITS

It’s been a rocky road for Dublin over the past few years, but last month’s exit from the European Union-International Monetary Fund bailout and last Friday’s welcome news that Moody’s would follow Fitch and S&P by upgrading...more

1/22/2014 - EU Ireland Moody's Pensions UCITS

Yes – ICAV! Irish Minister for Finance Announces New Irish Corporate Fund Vehicle

The Irish Minister for Finance published the General Scheme of the Irish Collective Asset-management Vehicle (ICAV) Bill 2014, shortly before Christmas (20 December). The ICAV is a new corporate vehicle designed...more

1/9/2014 - Capital Markets ICAV Ireland Venture Capital

Central Bank of Ireland Consults on an Draft UCITS Rulebook Including the Possible Removal of the Promoter Requirement

The Central Bank of Ireland (“Central Bank”) has today issued a consultation paper (CP 77) on the publication of a draft UCITS Rulebook. The consultation period will close on 28 March 2014. The UCITS Directive is...more

1/2/2014 - Central Bank of Ireland EU Reporting Requirements Shareholders Stock Promoters UCITS

After AIFMD, the Central Bank of Ireland Turns its Attention to Loan Origination Funds

Having been one of the first countries to implement the Alternative Investment Fund Managers Directive (“AIFMD”) and, as far as we can gather, having been the first country to approve an Alternative Investment Fund Manager...more

7/31/2013 - AIFM AIFMD Alternative Investment Funds EU Foreign Banks FSB Loans UCITS

Irish Central Bank Opens Its Door for AIFMD Business

The Central Bank of Ireland (Central Bank) is now accepting applications for authorisation under the Alternative Investment Fund Managers Directive (AIFMD) on an informal basis. Applications can be made on the Central Bank’s...more

5/17/2013 - AIFM AIFMD EU Risk Management

Financial Services Quarterly Report - First Quarter 2013: The UCITS Agenda

The first item on the UCITS agenda for 2013 – the ESMA Guidelines on ETFs and Other UCITS Issues (the “Guidelines”) – has gone live. This article provides an update and clarity around the recently finalised Guidelines2 since...more

3/30/2013 - AIFM AIFMD Commodities Derivatives EFTs ESMA EU European Central Bank Hedge Funds Portfolio Managers Stocks UCITS

UCITS V Bonus Plans and Remuneration Rules for Fund Managers

First bankers, now managers of UCITS funds are in the firing line for the European Union assault on bonuses. As widely reported in the financial press this week, the European Parliament’s Economic and Monetary Affairs...more

3/22/2013 - Asset Management Bonuses EU European Commission UCITS

ESMA’s Final Guidelines on Repurchase and Reverse Repurchase Agreements for UCITS Funds

The European Securities and Markets Authority (“ESMA”) published final guidelines on repurchase (repo) and reverse repurchase agreements for UCITS funds on 4 December 2012. This is a follow-up to ESMA’s publication in July...more

12/14/2012 - Derivatives EU European Securities and Markets Authority Money Market Funds OTC Repurchases UCITS

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