IFSC.ie Funds Features

GDPR For Irish Funds - 8 Month Countdown

02/11/2017 - The EU General Data Protection Regulation (GDPR) will take effect on 25 May 2018 and has been described as the most ground-breaking piece of European Union legislation in the digital era.

Third Country Delegation: European Commission Seeks Enhanced Role for ESMA

26/10/2017 - The European Commission (Commission) has recently proposed a number of legislative amendments aimed at further promoting supervisory convergence - one of the key tools in its Capital Markets Union toolbox.

Limited Partnership Structures

05/09/2017 - The planned overhaul of the Limited Partnership Structure in Ireland is a long overdue step forward for Irish funds

Central Bank UCITS Regulations clarify CP86 location rules and other matters.

17/08/2017 - The Central Bank of Ireland (Central Bank) signed the Central Bank (Supervision and Enforcement) Act 2013

EU Money Fund Reform To Take Effect

01/08/2017 - Following its adoption by the Council of the EU, the Money Market Funds Regulation has been published in the Official Journal of the EU. Therefore, the transition period for the implementation of the Regulation has begun.

Have you KID-proofed your QIAIF?

01/08/2017 - Following its bruising and protracted journey through the EU legislative process, the EU Regulation on Packaged Retail and Insurance-Based Investment Products ("PRIIPs") (EU 1286/2014) (the "Regulation") and related legislation will finally take effect on 1 January 2018.

Supreme Court not Seduced by Third Party Litigation Funding Arguments

22/06/2017 - High Court rejected Third Party Litigation Funding. This case arose as a consequence of the plaintiffs' allegations that there was impropriety in a tender process resulting in the award of a mobile phone licence to Esat Digifone in 1996.

Authorisation as an Investment Firm Under MiFID II in Ireland

01/06/2017 - The Markets in Financial Instruments Directive II (MIFID II) is a significant overhaul of the regulatory regime for investment firms operating within the European Union.

EU Money Fund Reform Reaches Final Stage

10/05/2017 - On 5 April 2017, almost three and a half years after it was first proposed in September 2013, the European Parliament (Parliament) adopted at first reading the Money Market Funds Regulation (Regulation).

Why Choose Ireland? Structured Finance And Securitisation

28/04/2017 - Ireland has become a favoured jurisdiction of choice in the EU for the establishment of special purpose vehicles (SPVs) that are used in securitisation and structured finance transactions.

ESMA Opinion on UCITS Share Classes

11/04/2017 - The UCITS Directive (2009/65/EC) recognises the possibility for UCITS to offer different share classes to investors, but provides no detail as to the permitted scope of these share classes. As a result, there is no common legal or regulatory framework for establishing share classes throughout the EU.

Central Bank Updates

05/04/2017 - Updates of interest include: Supervisory Priorities - Speaking at two industry events*, Grainne McEvoy, Director of Securities and Markets Supervision set out the Central Bank's 2017 supervisory priorities, together with other planned initiatives, as they relate to Asset Management.

Pressure on for Supervisory Convergence

05/04/2017 - As part of the overall plan toward achieving capital markets union ("CMU"), the European institutions are increasingly focused on the streamlining and convergence of regulation in the asset management and financial services landscape.

New Regulations for Fund Administrators, MiFID and Other Investment Firms

04/04/2017 - The Central Bank (Supervision and Enforcement) Act 2013 (Section 48 (1)) (Investment Firms) Regulations 2017 (the "Regulations") consolidate into one location the requirements that the Central Bank imposes on certain investment firms.

Consultation on New Methodology to Calculate Funding Levies

30/03/2017 - Have your say by 28 April 2017 : The Central Bank of Ireland has published a Consultation Paper (CP 108) on the industry funding levy that is paid to the Central Bank by regulated financial services providers in relation to its supervision of those entities.

Fourth EU Anti-Money Laundering Directive's Effective Date Looms - Are You Ready?

29/03/2017 - The Fourth EU Anti-Money Laundering Directive (EU 2015/849) (AMLD4) is the latest significant upgrade to the EU legislative programme in the area of anti-money laundering and counter-terrorist financing (AML/CTF).

Ireland Publishes First AML/CTF National Risk Assessment

01/12/2016 - On 7 October 2016, the Department of Finance and the Department of Justice and Equality published the first National Risk Assessment for Ireland (NRA) on money-laundering and terrorist financing (AML/CTF).

Irish Securitisations with Financial Assets deriving their value from Irish property

01/12/2016 - Are you aware of the proposed changes to Section 110? On 6 September 2016, the Minister for Finance, Michael Noonan announced details of proposed amendments to Section 110 of the Taxes Consolidation Act 1997 ("Section 110")

ESMA Publishes Final UCITS Remuneration Guidelines

18/11/2016 - As previously reported, in March 2016 the European Securities Markets Authority ("ESMA") published its final report on Guidelines on sound remuneration policies under the UCITS Directive.

EuVECA and EuSEF Funds: Prescriptive Minimum Capital Requirements Proposed

18/11/2016 - In our August 2016 e-zine, we reported on a European Commission ("Commission") initiative to boost the numbers of venture capital and social impact funds by amending the original 2013 European Venture Capital Funds ("EuVECA") and European Social Entrepreneurship Funds ("EuSEF") Regulations.