On 30 November 2023, the Central Bank of Ireland (the "Central Bank") published a public statement relating to an enforcement action against an Irish-authorised UCITS ICAV (the "ICAV") which has been reprimanded and fined...more
Partners Niall Esler and Shane Martin, along with senior associate Conor Daly and trainee solicitor Coleen Wegmann, have authored the Ireland chapter for Global Legal Insights Fintech 2023. They provide an up-to-date summary...more
The European financial regulators continue to warn consumers that many crypto-assets are risky and are not suited for most retail consumers as an investment or as a means of payment or exchange. However, two recent fund...more
For many in the Funds Industry, the issue on 20 October 2020 of the Central Bank of Ireland’s (the “Central Bank”) Industry Letter (the “Industry Letter”) relating to the Central Bank’s Thematic Review of Fund Management...more
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
Bond Connect applications - The Central Bank of Ireland confirmed on 21 March 2019 that it would begin to accept applications from Irish authorized investment funds to participate in China Bond Connect ("Bond Connect")....more
MoUs with the Financial Conduct Authority (FCA) - The Central Bank of Ireland has agreed a Memorandum of Understanding (MoU) on February 1, 2019 with the Financial Conduct Authority (FCA) of the United Kingdom (UK) on foot...more
Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Bill 2019 - The Government of Ireland approved the general scheme of drafting of the Criminal Justice (Money Laundering and Terrorist Financing)...more
Central Bank says Brexit contingency planning must continue - The Central Bank’s Director General for Financial Conduct, Derville Rowland spoke at the Irish Funds Annual UK Symposium on 15 November 2018, telling asset...more
Central Bank publishes the fifth edition of its investment firms Q&A - The Central Bank of Ireland published the fifth edition of its Investment Firms Questions and Answers (the “Q&A”) on October 8, 2018, containing an...more
General data protection regulation – Irish funds working group updates - In July 2018, the Irish Funds General Data Protection Regulation ("GDPR") (Regulation (EU) 2016/679) working group (the "Working Group") issued an...more
Central Bank publishes twenty-third edition of UCITS Q&A - The Central Bank published the 23rd Edition of the Central Bank UCITS Q&A on 5 July 2018. A new question, ID 1002, in relation to UCITS investing in non-UCITS...more
Central Bank issues new edition of the AIFMD Q&A - The Central Bank published the 30th edition of the AIFMD Q&A. ID 1083 on 4 May 2018, which relates to loan originating Qualifying Investor AIF and obligations to report...more
Irish Revenue Guidance on Section 110 - The Irish Revenue Commissioners (“Revenue”) issued a new Tax and Duty Manual (the “Tax Manual”) on 24 May 2018, setting out the position to deal with some of the uncertainties around...more
Consultation Paper: amendments to Central Bank UCITS Regulations - The Central Bank published a Consultation Paper (CP 119) on 29 March 2018, proposing amendments to the Central Bank UCITS Regulations and the consolidation...more
Central Bank Updates AIF Rulesbook for Loan Origination QIAIFs - The Central Bank released on 14 March an updated AIF Rulebook with amendments in relation to Loan Originating Qualifying Investor Alternative Investment...more
Central Bank to Amend the Requirements for Loan Origination QIAIFs - The Central Bank has published a notice of intention to amend the requirements for loan origination Qualifying Investor AIF set out in the AIF Rulebook....more
New edition of UCITS and AIFMD Q&As published by the Central Bank - The Central Bank recently published the 28th edition of AIFMD Q&A on the 2 January 2018. A number of new questions have been answered regarding the PRIIPS...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
Central Bank Reviews Outsourcing Arrangements of Fund Administrators - The Central Bank completed a review on outsourcing carried out by Irish regulated Fund Administrators....more
New Central Bank Investment Firms Regulations 2017 - The Central Bank published the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2017 on 13 March 2017. The new...more
Central Bank Publishes Feedback Statement on CP105 - The Central Bank published its Feedback Statement on CP105 on 19 January 2017. CP105 sets out proposed amendments to the Central Bank UCITS Regulations in light of...more
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
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
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