New edition of UCITS and AIFMD Q&As published by the Central Bank
The Central Bank recently published the 28th edition of AIFMD Q&A on the 2 January 2018. A number of new questions have been answered regarding the PRIIPS Regulation and in relation to the Benchmark Regulation.
The Central Bank also published the 22nd edition of the UCITS Q&A on 2 January 2018. The new edition features new questions relating to prospectus disclosure in the context of the Benchmark Regulation and a question regarding the PRIIPS Regulation.
Fourth edition of the Central Bank Investment Firms Q&A published
The Central Bank published the fourth edition of its Investment Firms Q&A on 2 January 2018.
This new document contains amendments to existing questions and a host of new questions. Most importantly, the document attempts to answer queries which may arise in relation to the Central Bank Investment Firms Regulations and the recently enacted MiFID II and MiFIR.
Central Bank issues updated EMIR FAQs
The Central Bank has updated its FAQs in relation to EMIR. Questions three and four are no longer relevant and are deleted. Question two is updated to refer to MIFID II.
EMIR is the European Market Infrastructure Regulation (EMIR) which is a body of European legislation for the regulation of over-the-counter derivatives. It came into force on 16 August 2012.
Central Bank publishes new outsourcing guidance for fund administrators
The Central Bank recently published new guidance to assist fund administrators in completing the Annual Outsourcing Return require under Regulation 25 of the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2017) S.I. No. 604 of 2017.
Amendments to Central Bank fund filing process
As of the 22 January 2018 the Central Bank has with immediate effect altered its fund filing process. The draft UCITS’ Risk Management Processes (“RMP”) are no longer to be reviewed by the Central Bank as part of the authorisation/application process. The Central Bank has also advised firms that Section 13 UCITS Risk Management Process Application Form will be made available in the coming days.
Second edition of CBI's Investment Firms Regulations 2017 published
The Central Bank published Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2017 (S.I. 604 of 2017) on 2 January 2018. The Central Bank's intention was to consolidate all requirements applicable to MiFID firms and IIA firms into a single document.
These new regulations make a number of amendments to the Central Bank's Rules in order to give full effect to MiFID II. The new edition also takes account of certain matters which arose as a result of the first edition published in 2017.