DOMESTIC:

Update of Investment Limited Partnership and ICAV legislation announced

The Government has approved the legal drafting of an Investment Limited Partnership (Amendment) Bill to support development of the private equity fund industry. The drafting of technical amendments to the Irish Collective Asset-management Vehicles Act 2015 to assist with that Act’s operation has also been approved.

EUROPEAN:

European Securities and Markets Authority issues opinion supporting supervisory convergence in EU27 in the context of Brexit

European Securities and Markets Authority (ESMA) published an opinion on investment management to support supervisory convergence in the context of the UK leaving the EU.

European Securities and Markets Authority issues opinion on Asset Segregation and Custody Services

ESMA issued an opinion on the optimal approach to asset segregation under AIFMD and the UCITS Directive; and how the depositary delegation rules should apply to central securities depositaries (CSDs).

European Securities and Markets Authority updates Questions and Answers on the application of the AIFMD and UCITS Directive

ESMA updated its AIFMD and UCITS Questions and Answers.

International Organization of Securities Commissions consults on Liquidity Risk Management Recommendations and Good Practices for Collective Investment Schemes

The International Organization of Securities Commissions (IOSCO) published a consultation on recommendations for liquidity risk management for collective investment schemes (CIS). IOSCO is also consulting on a report containing good practices and issues for consideration relating to open-ended fund liquidity and risk management.

Money Market Funds Regulation (EU) 2017/1131 enters force

On 30 June 2017, the Regulation on Money Market Funds was published in the Official Journal of the EU. It entered into force on 20 July 2017. It will apply from 21 July 2018, with certain exceptions.