The Central Bank is providing a temporary waiver in respect of the disclosure requirements for connected party transactions, as required under UCITS Notice 14 and Non-UCITS Notice 2, for current reporting periods. This is an interim measure while the Central Bank gives further consideration to its requirements for the content of the disclosures. The disclosure requirement concerns transactions carried out with a fund by its promoter, manager, trustee, investment adviser and/or associated or group companies. A report of the transactions entered during the reporting period must be provided in the annual and half yearly reports. The report must include a list of all transactions by type, the name of the related company and, where relevant, fees paid to that party in connection with the transaction. The Central Bank had outlined that it anticipated that the report would include information in relation to fee payments, dealings in units, foreign exchange transactions, deposits and OTC transactions. The Central Bank is reviewing its requirements in the context of the volume of disclosures which would be involved, the compliance burden and the commercial sensitivity of some of the information required. This issue is not to be confused with the “related party” disclosure requirements under FRS8 which focus on fee payments and dealings in units with respect to parties which exercise control over the reporting entity (i.e. the fund).