On 10 November 2023, the Central Bank of Ireland (the “Central Bank”) sent a communication to the Irish funds industry outlining the timeframes for receipt of:
- QIAIF authorisations / approvals / notings and change of service provider (“COSP”) filings;
- ICAV registration and revocation applications; and
- UCITS and RIAIF authorisations / approvals during the Christmas period
(the “Year End Communication”).
Deadlines for receipt of complete applications are set out below:
QIAIF Filings1
COSP Filings (QIAIFs only)
ICAV Registration / Conversion / Migration Applications
UCITS and RIAIF Authorisations / Approvals / Noting
Note the following relates to final filings (i.e., once clear of comment) and not initial applications.
Note the following relates to initial applications (i.e., Draft 1 applications / applications that are not reasonably expected to be submitted for approval by Wednesday 20 December 2023).
Where applications (initial and later drafts) are received after the Initial Applications Deadline, these applications will take a received date of 2 January 2024.
Fund Service Provider (“FSP”) Authorisations
Revocations
The Central Bank has not provided any detail in relation to timelines for: (i) Individual Questionnaire (IQ) Filings; or (ii) Full Review Investment Manager Applications (i.e., non-EU, including UK, based applicants).
- Applications for Authorisation and Sub-Fund Applications for Approval.
- Wednesday 27 December 2023 is the first day after Christmas that funds may be authorised / approved.
- Friday 29 December 2023 is the first day after Christmas that UCITS and RIAIF funds may be authorised / approved.
- Tuesday 2 January 2024 is the first day of 2024 that UCITS and RIAIF funds may be authorised / approved.
- For funds seeking to revoke at end of December 2023, a complete revocation application, including payment of the funding levy must be submitted by 5 p.m. on Friday 15 December 2023.
