The Central Bank published new Central Bank UCITS Regulations which will commence on 1 November 2015 (Central Bank UCITS Regulations). The Central Bank UCITS Regulations supplement existing legislative requirements, in particular the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011. For the most part, the rules in the Central Bank UCITS Regulations are the same as the conditions set out in the Central Bank’s UCITS Notices but a small number of policy changes are included. The Central Bank has also restructured its UCITS guidance to reflect the publication of the Central Bank UCITS Regulations.

The Central Bank issued a markets update on 5 October 2015 which includes:

  • The Central Bank UCITS Regulations.
  • The restructured UCITS guidance which reflects the publication of the Central Bank UCITS Regulations and will also come into effect on 1 November 2015. The current UCITS guidance in the form of Guidance Notes) will remain on the Central Bank website until that date and will be removed thereafter.
  • UCITS Q&A Seventh Edition which reflect the introduction of the Central Bank UCITS Regulations 2015.
  • Feedback statement on CP77 (Consultation on publication of UCITS Rulebook). 
  • Feedback statement on CP84 (Consultation on the adoption of ESMA’s revised guidelines on ETFs and other UCITS issues).
  • AIFMD Q&A Sixteenth Edition with new questions on Directed Brokerage, Board Composition and Non- material change.
  • First edition of the Investor Money Regulations Q&A.

The Central Bank subsequently published an updated UCITS Q&A Eighth Edition which provides additional guidance with respect to the transitional provisions for the Central Bank UCITS Regulations.