Regulated funds

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  • Updated Irish limited partnership law approved by Irish Government

    Article

    Submitted: 14 June 2019

    On 11 June 2019, the Irish Government approved the publication of the Investment Limited Partnership (Amendment) Bill 2019 (the Bill).

  • Irish regulator publishes revised UCITS Regulations 2019

    Article

    Submitted: 12 June 2019

    The Central Bank of Ireland (CBI) has published revised regulations governing the operation of Irish domiciled UCITS, UCITS management companies and depositaries.

  • SRD2 - are you ready?

    Article

    Submitted: 05 June 2019

    The EU’s revised Shareholder Rights Directive (SRD2) comes into effect from 10 June 2019 and imposes new obligations on, among others, MiFID firms, AIFMs, UCITS ManCos and self-managed UCITS. This note looks at the key issues of SRD2, including its scope, requirements and implementation.

  • ESMA updates its UCITS Q&As on delegation and supervision of depositary functions

    Article

    Submitted: 05 June 2019

    On 04 June 2019, the European Securities and Markets Authority (ESMA) published a further update to its Q&As, Application of the UCITS Directive to include five new questions relating to the duties of depositaries, their supervision and their delegation to other entities.

  • Migration of offshore collective investment funds to Ireland - an update

    Article

    Submitted: 28 May 2019

    In a welcome move, the Irish government has prescribed Guernsey and Bermuda as relevant jurisdictions under the Irish Collective Asset-management Vehicles Act 2015 and (along with the Cayman Islands, the British Virgin Islands and Jersey) under the Companies Act 2014. This means funds from these jurisdictions may now migrate into Ireland without having to wind up in their existing jurisdiction.

  • UK TPR - FCA further extends the period to make notifications to 30 October

    Article

    Last Reviewed: 28 May 2019 / Submitted: 15 April 2019

    The FCA is extending to 30 October 2019 the deadline for inbound passporting EEA firms and funds to notify it of a wish to enter the UK’s Temporary Permissions Regime - updates to already made notifications can be made no later than 16 October 2019.

  • Cross border distribution of AIFs and UCITS - new rules approved by European Parliament

    Article

    Submitted: 01 May 2019

    On 16 April 2019, the European Parliament (EP) voted in favour of a directive and a regulation which, together, bring in new rules for the cross-border distribution of AIFs and UCITS in the EU, including the ability to pre-market AIFs, new requirements around local facilities for funds sold to retail investors and a regime whereby a manager can de-notify an AIF or a UCITS which it no longer wishes to market in a given Member State.

  • FCA fires warning shot over approval of financial promotions

    Article

    Submitted: 12 April 2019

    ​In a Dear CEO letter published on 11 April 2019, the FCA sends out a further warning shot that it will take action where necessary against firms which approve financial promotions for unauthorised entities without having performed the due diligence to ensure that the promotion is fair, clear and not misleading.

  • ESMA’s updated Q&As on UCITS KIIDs – key changes and action points for managers

    Article

    Submitted: 08 April 2019

    The European Securities and Markets Authority’s (ESMA) updated Q&As bring in various changes to a UCITS’s Key Investor Information Document (KIID). This Note looks at some of the more important implications of ESMA’s guidance and offers some action points which managers should be taking to ensure compliance.

  • UCITS KIIDs - ESMA updates its Q&As with clarification on disclosure of past performance and benchmark indices

    Article

    Submitted: 03 April 2019

    On 29 March 2019, the European Securities and Markets Authority (ESMA) published updated Q&As on the UCITS Directive. In modifying one existing Q&A, deleting another and including four new ones, ESMA has clarified how a UCITS should disclose past performance and benchmark indices in its Key Investor Information Document (KIID).

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