The Central Bank of Ireland has published new guidance to the fund industry entitled ‘Fund Management Companies Guidance’ in response to its Consultation Paper 86 (CP86). The Guidance is divided into three parts, namely: (i) Part I – Delegate Oversight; (ii) Part II – Organisational Effectiveness; and (iii) Part III – Directors’ Time Commitments. The Guidance has been sent to the boards of investment funds, AIFMs and management companies.