Domestic

CBI passporting notifications

The below passporting submissions are to be made via the Central Bank of Ireland (CBI) Portal from 11 September 2024.

• UCITS Outward Marketing submissions - notifications and de-notifications (full sub fund).
• Article 32 Outward submissions, i.e. Irish AIFMs marketing EU AIFs in EU Member States (excluding Ireland) - notifications and de-notifications.
• Article 31 Inward submissions, i.e. Irish AIFMs marketing EU AIFs in Ireland - notifications and de-notifications.

European

ESMA guidelines on funds’ names

ESMA published translations of its guidelines on funds’ names using ESG or sustainability-related terms (the Guidelines) on 21 August 2024. This triggers the application of the guidelines. The key dates by which funds will need to adapt and comply are:

• the guidelines will apply three months from 21 August 2024 i.e. on 21 November 2024
• funds created on or after the 21 November 2024 application date should apply the guidelines from the establishment of those funds
• the transitional period for funds existing before 21 November 2024 will be six months after the initial application date i.e. 21 May 2025

The UK’s Overseas Funds Regime

The UK’s Financial Conduct Authority (FCA) will open the gateway to new schemes (i.e, those not in the UK’s Temporary Marketing Permissions Regime (TMPR)) on 30 September 2024. New schemes will be able to apply at any time from that date without a landing slot.

For more information on these topics please contact any member of A&L Goodbody's Asset Management & Investment Funds team.

This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.