CP 106: Review of Minimum Competency Code 2011 -
The Central Bank has published a Consultation Paper on the Review of the Minimum Competency Code 2011 (CP106). The proposed changes to the minimum competency standards...more
12/23/2016
/ AIF ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Central Bank of Ireland ,
Competency Requirements ,
EU ,
European Securities and Markets Authority (ESMA) ,
Investment Firms ,
Investment Funds ,
Ireland ,
Loan Origination Funds ,
Pension Schemes
Central Bank launches ORION II platform to authorise all QIAIFs applications -
All QIAIFs applications (including ICAVs) will be processed via the CBI’s ORION platform allowing consistency with other legal structures and...more
11/30/2016
/ Anti-Money Laundering ,
Asset Management ,
Beneficial Owner ,
Blacklist ,
Brazil ,
Central Bank of Ireland ,
EU ,
Investment Funds ,
Ireland ,
QIAIF ,
Tax Haven ,
Transparency
Central Bank Issues "Dear Chairman" Letter Regarding Directors' Time Commitments for Each Sub Fund -
The Central Bank of Ireland issued a “Dear Chairman” letter on 8 September 2016, concerning its review of the number of...more
Central Bank Personnel Update -
The Central Bank of Ireland (the “CBI”) announced that Gareth Murphy, Director of Markets Supervision, has resigned his position on 22 August 2016. He will remain with the CBI until...more
Investor Money Regulations Update -
The Investor Money Regulations (IMR) became effective on 1 July 2016.
The Irish Funds IMR Working Group is in the process of finalising an IMR Q&A document due to be released...more
7/11/2016
/ Anti-Money Laundering ,
Asset Management ,
Central Bank of Ireland ,
EU ,
EU Market Abuse Regulation (EU MAR) ,
Fund Managers ,
Investment Funds ,
Investor Money Regulations (IMR) ,
Ireland ,
UCITS ,
UK Brexit
On 27 April 2016, following a prolonged legislative process over some four years, the European Council and Parliament finally adopted a new data protection law: the General Data Protection Regulation (GDPR). The GDPR was...more
New Irish UCITS V Regulations -
The European Communities (Undertaking for Collective Investment in Transferable Securities) (Amendment) Regulations 2016 (S.I. 143 0f 2016 ) (the “Regulations”) which transpose UCITS V...more
Central Bank Letter Regarding Conflict of Interest (“COI”) Risks in Investment Firms -
The Central Bank issued a letter (the “Letter”) to all investment firms providing feedback on the findings of their thematic...more
3/23/2016
/ AIF ,
Asset Management ,
Board Meetings ,
Board of Directors ,
Capital Requirements ,
Central Bank of Ireland ,
Conflicts of Interest ,
Investment Firms ,
Investment Funds ,
Ireland ,
UCITS V
Guidance Regarding Cash Accounts for UCITS and AIF Umbrella Funds -
The Central Bank of Ireland (the “Central Bank”) issued guidance on cash accounts for UCITS and AIF umbrella funds on 22 December 2015....more
Central Bank Management Feedback Statement and Guidance (CP86) -
The Central Bank published its feedback statement on CP86: Fund Management Company Boards (the “Feedback Statement”) and related Guidance on Fund...more
UCITS Q&A Updated -
The Central Bank published a revised UCITS Q&A document (the eighth edition) on Friday 23 October 2015. The updated Q&A provides additional guidance with respect to the transitional provisions for the...more
UCITS Rulebook -
The Central Bank of Ireland announced the issuance of the new UCITS Rulebook on Monday October 5th. It, and the guidance relating to it, are effective 1 November....more
The Central Bank of Ireland (“CBI”) issued an update to its Q&A documents on 15 July 2015 for both UCITS and AIFMD FAQ (“Q&A”) which clarifies how Irish funds can invest in Chinese shares via the Shanghai-Hong Kong Stock...more
Central Bank Update Concerning Fund Management Company Boards
The Central Bank has published a document in relation to Fund Management Company Boards including a feedback statement on CP86 and a new consultation on...more
7/22/2015
/ AIF ,
Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Board of Directors ,
Central Bank of Ireland ,
Companies Act ,
Financial Institutions ,
Fund Managers ,
Investment Funds ,
Ireland ,
UCITS
Corporate Governance for Investment Firms -
The Central Bank has issued a consultation paper regarding the appropriate corporate governance requirements to be applicable to investment firms. The relevant paper, CP 94,...more
Client Monies - New Legislation Adopted and Guidance Issued -
The Central Bank of Ireland issued two sets of regulations on 30 March 2015 relating to investor monies held by third parties. These are the Client Asset...more
UCITS: New KIID Q&A -
ESMA published revised Q&A’s on the KIID on 26 March 2015. The Q&A includes a new question on the treatment of past performance information in case of fund mergers....more
4/28/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
EMIR ,
EU ,
European Securities and Markets Authority (ESMA) ,
Fund Managers ,
Investment Funds ,
Memorandum of Understanding ,
MiFID II ,
Money Market Funds ,
Shadow Banking ,
Singapore ,
Swaps ,
UCITS
AIF Rulebook Updated -
The Central Bank has issued a new edition of the AIF Rulebook dated March 2015 and replacing that dated September 2014. Key changes reflected in the updated edition include provisions reflecting...more
EMIR: Non-Deliverable FX Forwards and Interest Rate Swap Clearing -
Non-deliverable FX forwards -
ESMA confirms that EMIR clearing requirements will not apply to non-deliverable FX forwards, though reserves its...more
4/2/2015
/ Benchmarks ,
Capital Markets ,
Crowdfunding ,
EMIR ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
FX Forwards ,
Interest Rates ,
Investment Funds ,
MiFID II ,
Swap Clearing
Central Bank Publishes Enforcement Priorities for 2015 -
The Central Bank of Ireland published its statement of enforcement priorities for 2015 on 9 February 2015. The Central Bank entered into 11 enforcement settlements...more
EU Passes New Council Directive to Implement “EU-FATCA" -
The Council Directive passed by the EU on 1 December 2014 implements the OECD’s Common Reporting Standard (CRS) in Europe. The Directive has to be implemented...more
3/10/2015
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Management ,
Benchmarks ,
CCPs ,
EIOPA ,
EMIR ,
ETFs ,
EU ,
European Securities and Markets Authority (ESMA) ,
FATCA ,
Insolvency ,
Investment Funds ,
MiFID II ,
Money Market Funds ,
Regulatory Agenda ,
Sovereign Debt ,
Swap Clearing ,
Swaps ,
UCITS
AIFMD – FCA Publishes Information to Assist Alternative Investment Fund Managers with Annex IV Reporting -
New FCA Q&As on GABRIEL for Annex IV reporting: On 20 January 2015, the FCA published a new Q&As document to...more
In our January 2014 DechertOnPoint - 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...more
CSSF Reminder Regarding Nomination of Depositaries of Bearer Shares -
The Luxembourg regulator for the financial services industry (CSSF) has issued a press release and a FAQ in relation to the immobilization of bearer...more
2/20/2015
ICAV Update - Bill Passed by Lower House of Parliament:
On 28 January 2015, the lower house of the Irish Parliament, the Dail, approved the draft legislation, including various amendments recommended during the Report...more