The IFIA issued a Corporate Governance Code for Fund Service Providers. This aims to provide the board of Directors of administrators, custodians and depositaries authorised and regulated by the Central Bank (Service Providers) with a framework of good practice of corporate governance and oversight.
The code operates in parallel with the Corporate Governance Code for Collective Investment Schemes and Management Companies. It ensures a clear set of responsibilities for the board of the Service Providers including oversight, risk and compliance, key appointments and the prevention of any conflicts of interest. This code is a voluntary industry code which is fully supported by the Central Bank, and its adoption is recommended. Please speak with your usual contact on our asset Management & Investment Funds team if you need further details.