IRELAND: CBI Publishes Twenty-Second Edition of UCITS Q&As

Tuesday January 9 2018

On 2^nd January 2018, the Central Bank of Ireland (CBI) published the Twentieth Edition of the Central Bank UCITS Q&A. New questions ID 1086 relating to prospectus disclosure in the context of the Benchmark Regulation and ID 1087 regarding the PRIIPS Regulation are included .

ID 1086

1. I am a UCITS which makes use of a benchmark as referred to in Article 3(1)(7)(e) of the Benchmark Regulation. Article 29(2) of the Benchmark Regulation indicates that the prospectus shall include clear and prominent information stating whether the benchmark is provided by an administrator included in the register referred to Article 36 of the Regulation. Do I need to include the name of the administrator in this disclosure?
2. No. The disclosure in the UCITS prospectus does not require the name of the benchmark administrator to be identified.

ID 1087

1. Are UCITS required to produce a PRIIPs KID?
2. No. UCITS are exempt from the obligations to produce a PRIIPS KID until 31 December 2019. The Central Bank will not require UCITS to produce a PRIIPs KID in advance of that date. The UCITS KIID requirements continue to apply

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