On 19 July 2024, the EU Commission formally adopted its delegated regulation supplementing the ELTIF Regulation. The delegated regulation seeks to set out the regulatory technical standards specifying when derivatives will be...more
ESMA has responded to the EU Commission’s March 2024 proposed amendments to the ELTIF 2.0 RTS.
ESMA has notably rejected the EU Commission’s alternative option of determining the maximum redemption amount by reference to...more
On 10 October 2022, the European Commission (the “Commission”) published a long-awaited report on the Securitisation Regulation (the “Commission Report”). Among other things, the Commission Report responded to a request by...more
10/18/2022
/ AIFM ,
AIFs ,
Due Diligence ,
EU ,
European Banking Authority (EBA) ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
European Supervisory Authorities (ESAs) ,
Institutional Investors ,
Investors ,
Lenders ,
Loans ,
Reporting Requirements ,
Securitization Standards
The Central Bank of Ireland (the “Central Bank”) sent a communication to the Irish funds industry on 1 December 2021, outlining the timeframes for receipt of: (i) QIAIF authorisations / approvals and notings; (ii) ICAV...more
This OnPoint provides an overview of the long-awaited central register of beneficial ownership filing requirements for both ICAVs and Unit Trusts in Ireland together with an update on the specific issues related to...more
In this OnPoint, we report on the recent Supervisory Briefing issued by the European Securities and Markets Authority (“ESMA”) on the supervision of costs in UCITS and AIFs published 4 June 2020....more
The Central Register of Beneficial Ownership of Companies and Industrial and Provident Societies (the Central Register) is now open and Irish entities have until 22 November 2019 to file their beneficial ownership details....more
10/2/2019
/ AMLD IV ,
Anti-Money Laundering ,
Beneficial Owner ,
Central Register ,
Corporate Entities ,
EU ,
Filing Deadlines ,
ICAV ,
Investment Funds ,
Ireland ,
Ltd. ,
Penalties ,
Public Limited Companies (PLC) ,
Registration Requirement ,
Transparency
The Central Bank of Ireland (the “Central Bank”) on 18 July 2019 published a ‘Dear Chair’ letter to the industry (the “Industry Letter”) highlighting the key supervisory issues identified in a thematic review of Irish...more
On 7 August 2019, the Central Bank of Ireland (the “Central Bank”) issued an industry letter (the “Industry Letter”) regarding the importance of ongoing, effective liquidity management and ensuring compliance with relevant...more
The new EU securitisation regulations (Regulations)1 came into force on 17 January 2018, and will be directly applicable across the European Union from 1 January 2019. EU retail funds (Undertakings for Collective Investment...more
The Central Bank of Ireland (the “Central Bank”) recently issued an industry letter1 highlighting issues identified during its recent thematic review of the calculation and payment of performance fees by UCITS. The review was...more
The Companies Registration Office ("CRO") in Ireland, published form FS1 on 10 July 2018. This form should be used by certain investment companies when filing financial statements with the CRO....more
The Central Bank of Ireland (the “Central Bank”) has announced that it will release a feedback statement later this year in response to its 2017 Discussion Paper on ETFs (the “Discussion Paper”) and the general work it has...more
5/2/2018
/ Amended Rules ,
Central Bank of Ireland ,
Disclosure Requirements ,
ETFs ,
Investment Funds ,
Investment Portfolios ,
Investors ,
IOSCO ,
Ireland ,
Listing Rules ,
Mutual Funds ,
Regulatory Requirements ,
Stock Exchange ,
Transparency ,
UCITS
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s statement on the implementation period for Brexit; the requirement for firms...more
4/20/2018
/ Asset Management ,
BEPS ,
Corporate Taxes ,
Cross-Border ,
Cryptocurrency ,
Customer-Loyalty Programs ,
Cybersecurity ,
Derivatives ,
EU ,
Financial Conduct Authority (FCA) ,
Financial Services Industry ,
MiFID II ,
MiFIR ,
UK ,
UK Brexit
A compact summary of the most recent regulatory developments relevant to the UK asset management industry. This issue includes details of the FCA’s approach to authorisation; action taken on closet tracking funds; proposed EU...more
3/22/2018
/ Asset Management ,
Broker-Dealer ,
Collective Investment Schemes ,
Cross-Border Transactions ,
Distribution Rules ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Stability Board ,
Investment Funds ,
Member State ,
MiFID II ,
Surveys ,
UK
A compact summary of the most recent regulatory developments relevant to the UK asset management industry.This issue includes details of proposed changes to the Financial Services Register to accommodate the Senior Managers...more
3/14/2018
/ Asset Management ,
Certification Requirements ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Financial Conduct Authority (FCA) ,
Financial Markets ,
FinTech ,
Legal Entity Identifiers ,
Libor ,
MiFID II ,
Secured Overnight Funding Rate (SOFR) ,
Senior Management Regime (SMR) ,
Senior Managers ,
SMCR ,
Sterling Overnight Index Average (SONIA) ,
UK
As a result of the 2008 financial crisis, and to help make money market funds (“MMFs”) more resilient to the potential for heavy redemptions in times of stress, the European Commission issued a proposal for a regulation on...more
The European Securities and Markets Authority (ESMA) has published its 2018 Work Programme (the Programme), which sets out ESMA's priorities and areas of focus for 2018. Supervisory convergence and the assessment of risks are...more
The rise of passive investment strategies and the growing momentum of investment in exchange-traded funds (ETFs) has not gone unnoticed by European regulators. The Central Bank of Ireland (Central Bank) recently released a...more