Tracker, Financial Services Regulation & Compliance - Funds

DOMESTIC

Central Bank consultation on Fund Management Company Effectiveness
The Central Bank issued a further consultation paper on Fund Management Company Effectiveness. The consultation closes on 25 August 2016.

Feedback on Central Bank CP99; Consultation on Amendments to the AIF Rulebook 
The Central Bank issued feedback which summarises the responses received to CP99; Consultation on Amendments to the AIF Rulebook along with the Central Bank’s comments and decisions.

Central Bank UCITS Regulations
The Central Bank UCITS Regulations 2015 require amendment as a consequence of the implementation of UCITS V.  The Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (UCITS)(Amendment) Regulations 2016 are in the process of being finalised and the amended Regulations will be published shortly. The Central Bank issued a consultation, CP105 on a second set of amendments to the Central Bank UCITS Regulations. CP105 closes on 25 August 2016.

Central Bank AIFMD Q&A
The Central Bank issued the nineteenth Edition of its AIFMD Q&A. 

Central Bank UCITS Q&A
The Central Bank issued the thirteenth Edition of its UCITS Q&A. 

EUROPEAN

AIFMD
ESMA published a speech given by Verena Ross, ESMA Executive Director, on the capital markets union, supervisory convergence and asset management which referenced the ESMA workstreams on AIFMD dealing with asset segregation, leverage and passporting. ESMA also published a compliance table setting out the level of compliance with its guidelines on sound remuneration policies under the AIFMD. 

MMF Regulation 
On 12 May 2016, the Presidency of the Council of the EU published a further compromise proposal  of the draft Regulation on Money Market Funds.

Benchmark Regulation
The Council of the EU announced  that it has adopted the Regulation on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds and amending Directives 2008/48/EC and 2014/17/EU and Regulation (EU) No 596/2014 and ESMA published a consultation paper  on draft Technical Advice on the regulation.

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

Date published: 03 June 2016