Friday June 3 2016

News Source: Fund Regulation

Focus: UCITS

Type: General

Country: Ireland




The Central Bank of Ireland has issued a Consultation Paper (CP) detailing a number of proposed amendments to its UCITS Regulations as a result of amendments consequential on the implementation of UCITS V. Technical changes have also been made, including correction of typographical errors.

Amendments include:

  • Changes to Regulation 11 to reflect the UCITS V Level 2 Regulation requirements in relation to the holding of cash accounts by UCITS for operational purposes;
  • A new Regulation to reflect that the UCITS V Level 2 Regulation does not apply safekeeping obligations in relation to assets held through subsidiary vehicles, unlike the position under AIFMD;
  • A new Regulation outlining the requirements currently applied by the Central Bank as part of the UCITS authorisation process in respect of the establishing of subsidiaries by UCITS; and
  • Deletion of a number of Regulations the requirements of which will be superseded by requirements in the UCITS V Level 2 Regulation.

Responses to the CP should be submitted to the Central Bank of Ireland by email or writing before the deadline of 25 August 2016

Click on the above link for further details.