IRELAND: Central Bank publish Guidance Note for AIFMs and UCITS Management Companies

Tuesday December 23 2014

The Central Bank of Ireland has published a Guidance Note for Alternative Investment Fund Managers (AIFMs) and Undertakings for Collective Investment in Transferable Securities (UCITS) Management Companies on Minimum Capital Requirement Report.

This guidance note is relevant to all Alternative Investment Funds Managers and UCITS Management Companies.

The purpose of this guidance note is to outline the requirements of the Minimum Capital Requirement Report. This report must be submitted bi-annually along with annual audited accounts.

The report is divided into the following sections:

• Initial Capital Plus Additional Amount;
• Expenditure Requirement;
• Professional Liability Risks;
• Minimum Capital Requirement;
• Own Funds;
• Eligible Assets;
• Previous Guarantee Agreed with Central Bank;
• Professional Indemnity Insurance;
• Compliance Test; and
• Qualifying Subordinated Capital.

Click on the above link for further information.