Page Contents
Domestic
European
Related areas
The UK’s Overseas Funds Regime (OFR)
The OFR, which will replace the UK’s Temporary Marketing Permissions Regime (TMPR), has opened from 30 September 2024. Initially, it is only open to EEA schemes that are not in the TMPR. The Central Bank of Ireland (the CBI) issued an update regarding CBI filing requirements for UCITS making filings when updating fund documentation in order to comply with OFR guidance.
CBI processes
The CBI:
ESMA speech on EU capital markets
The chairperson of the European Securities and Markets Authority, Verena Ross, spoke on EU capital markets. Ms Ross noted: “We should create a voluntary EU-label for “basic” investment products. Such a label could be used by certain financial instruments, such as for example a sub-set of UCITS funds or a plain vanilla corporate bond. Simple advice that meets basic investment needs should go hand in hand with that. Such ‘simplified’ advice (which could be based on streamlined suitability assessments) would be a step that could also benefit firms by reducing compliance costs”.
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.