IRELAND: CBI publishes feedback on consultation on amendments to the AIF Rulebook

Friday June 3 2016

On 30^th November 2015, the Central Bank of Ireland (CBI)published consultation paper CP99 on certain technical and policy changes to the AIF Rulebook. The consultation closed on 24 February 2016 and 4 responses were received. Consistent with the approach to UCITS, the AIF Rulebook is being converted into regulations to be issued by the Central Bank. Draft CBI AIF Regulations will be published for consultation in due course.

Proposed changes included:

• extending the category of investors who are provided with an exemption from the eligibility criteria and minimum subscription amount required to invest in a Qualifying Investor AIF
• amending the reporting requirement which applies to AIF depositaries where they provide services to non-Irish AIF
• amending the capital and reporting requirements which apply to AIFMs and AIF management companies
• extending the list of requirements from the AIFM Regulations 2013 which apply to Qualifying Investor AIFs with registered AIFM; and
• a requirement for AIFMs and AIF management companies to produce a second set of half-yearly accounts.

Please click on the above link for further details.