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 Regulations and Investor Money Regulations respectively. It also published Guidance for Investment Firms and Guidance for Fund Service Providers to assist in interpreting these Regulations.
Details are available at the following links:
ICAV Update
The Central Bank has now registered the first wave of ICAVs under the relevant new Irish legislation and Dechert has been actively involved.
Further information on the benefits of attributes of ICAVs, as well as the manner in which they can best be used to target specific categories of investor are included in our related OnPoint: Ticking All the Right Boxes! ICAV Act 2015 Signed Into Law
New Companies Act
A new consolidated Companies Act was passed in Ireland in December 2014 and its commencement is due to occur on 1 June 2015. This will have a number of implications for corporate entities working in the funds environment and service providers in particular.
A copy of the consolidated Act is available here.
Latest Irish Fund Statistics
The latest statistics relating to the funds industry in Ireland are available here.
