Learn more

Qualified professionals

Learn more

Trainee & intern programmes

Learn more


New York

Learn more

San Francisco

Learn more

Palo Alto

Learn more
A&L Goodbody logo
Asset Management & Investment Funds: Irish Practice Developments – May 2024

Asset Management & Investment Funds

Asset Management & Investment Funds: Irish Practice Developments – May 2024

Deadlines, CBI speeches, MMFs, CBI Markets Update.

Tue 28 May 2024

4 min read


The above list does not cover:

By way of example, the Companies (Accounting) Act 2017 obliges UCITS investment companies and AIF investment companies to file annual accounts with the CRO within eleven months of their financial year-end.

Central Bank of Ireland speeches

Speeches recently delivered by the Central Bank of Ireland (CBI) include the following.

CBI Deputy Governor Derville Rowland spoke at the Irish Funds Annual Global Funds Conference noting:

CBI Director of Consumer Protection Colm Kincaid spoke on financial consumer protection and market conduct considerations of AI in finance. Director Kincaid enunciated the CBI’s supervisory approach where firms are considering using AI.

Money Market Funds

The CBI published a notice of intention in relation to the ESMA “Guidelines on stress test scenarios under the MMF Regulation”. The notice sets out that the CBI expects full compliance with the guidelines from 6 May 2024. The CBI will, in due course, consult on the incorporation of a provision in the CBI UCITS Regulations and AIF Rulebook that all managers of MMFs adhere to the guidelines.

CBI Markets Update

The CBI issued Issue 5 of 2024 of its Markets Update. 

The CBI introduces macroprudential measures for Irish-authorised GBP-denominated LDI funds.

On 29 April 2024, the CBI announced the introduction of macroprudential measures for Irish-authorised GBP-denominated liability driven investment (LDI) funds. Building on the recent consultation paper - Macroprudential measures for GBP Liability Driven Investment funds - the measures require that GBP-denominated LDI funds authorised in Ireland maintain sufficient resilience to a minimum of 300 bps increase in UK yields. 

This measure is being codified in coordination with the CSSF, with whom the CBI have undertaken an aligned consultation process. Both the CBI and the CSSF are introducing the yield buffer as an ‘other restriction’ under Article 25 of AIFMD. This development was discussed in our April bulletin.

The CBI publishes a notice of intention in relation to the application of the ESMA guidelines on stress test scenarios under the Money Market Fund (MMF) Regulation (discussed above).

For more information on these topics please contact any member of A&L Goodbody's Asset Management & Investment Funds team.

Date published: 28 May 2024