Tracker, Financial Services Regulation & Compliance - Funds

DOMESTIC:

Loan Origination Qualifying Investor AIFs

On 25 November 2016, the Central Bank published a notice of intention to amend the requirements for loan origination Qualifying AIF set out in the AIF Rulebook.  This change will come into effect from 3 January 2017 when the Central Bank will publish a revised AIF Rulebook.

Central Bank AIFMD Q&A

On 25 November 2016, the Central Bank published the twenty-first edition of the AIFMD Q&A. A new question ID 1111 relating to pension scheme arrangements under EMIR is included.
 

EUROPEAN:

ESMA Q&A on application of AIFMD

On 16 November 2016, ESMA published an updated version of its Q&A on the application of the AIFMD with new Q&As on notifications and delegation.

ESMA Q&A on application of UCITS Directive

On 21 November 2016, ESMA published an updated version of its Q&A on the application of the UCITS Directive. Two new answers have been included on how investment limits should be applied where a UCITS wants to invest in an umbrella fund. The answers focus on the limits set in Articles 55(1) and 56(2)(c) of the Directive.

PRIIPs Regulation

The European Parliament's Committee on Economic and Monetary Affairs (ECON) published a draft report on the proposed Regulation which will amend the date of application of the Regulation on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs) (PRIIPs Regulation). Assuming the Commission proposal is passed, the PRIIPs Regulation will then apply from 1 January 2018.

MMF Regulation

On 16 November 2016, the Council of the EU issued a press release announcing that its Presidency has reached provisional agreement with representatives of the European Parliament on the proposed Regulation on Money Market Funds (MMF Regulation) and that a number of technical issues relating to the MMF Regulation are to be finalised "in the coming days".  

Benchmarks Regulation

ESMA published its final report to the European Commission setting out technical advice under the Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (Benchmarks Regulation). 

For further information please contact a member of the Financial Regulation team.

Date published: 06 Dec 2016