IRELAND: Updated UCITS Financial Derivative Instruments and Efficient Portfolio Management Guidance

Wednesday August 9 2017

On the 4 August 2017, the Central Bank amended the UCITS Financial Derivative Instruments and Efficient Portfolio Management Guidance.  This now includes an additional provision on disclosure requirements for financial derivative instrument in periodic reports and which is located on page 32 of the Guidance.

The Central Bank UCITS Regulations require that open financial derivative positions be reported in annual and half-yearly reports. Schedule 7 and Schedule 8 to the Central Bank UCITS Regulations allow that where the volume of these positions is high they can be reported on a condensed basis. UCITS are guided to consider that where the volumes of open financial derivative positions results in more than five A4 pages, this can be taken to meet “where the volume of positions is high”.

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