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 representing a further move away from paper based applications.

Details of the system have been released by Central Bank Read and are detailed in its release “Enhancements to ORION II QIAIF System”.

Central Bank Updates Its Transparency Rules

The Central Bank of Ireland has updated their Transparency Rules setting out procedural and administrative rules and guidance in respect of the Transparency (Directive 2004/109/EC) Regulations 2007 as amended. The Rules no longer provide exemptions from the requirement to notify issuers of significant share-holdings arising through stock-lending or stock-borrowing agreements.

Read full details of the Transparency Rules.

New Anti-Money Laundering Regulation Requires Accurate Information on Beneficial Ownership of Corporate Entities

The Regulation requires corporate and other legal entities incorporated in Ireland to hold adequate, accurate and current information on their beneficial ownership, including the details of beneficial interests held. It reflects aspects of the EU’s Fourth anti-money laundering directive.

Access a copy of the new European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2016.

Latest Fund Statistics for Ireland 

The Central Bank of Ireland has issued the latest statistics available regarding Irish funds. This includes fund data as well as details relating to new fund launches.

Irish Funds Hit by Brazil’s Tax Haven “Blacklist”

The Brazilian government have placed Ireland on their tax haven blacklist, potentially hitting Dublin-domiciled funds heavily invested in Brazilian companies with capital gains between 15% and 22.5%.