Does delegation equal outsourcing? Irish funds and CBI draft outsourcing guidance
The Central Bank of Ireland (CBI) issued a consultation on cross-industry guidance on outsourcing in February. The intention is for the guidance to issue at the end of 2021. The guidance will be relevant for all regulated firms including investment funds, fund management companies and their service providers such as administrators and depositaries. The Asset Management & Investment Funds team take a look at implications for investment funds and fund managers, particularly as the CBI has said that it does not regard delegation and outsourcing to be different concepts. The requirement to prepare, maintain and file an outsourcing register, potentially as early as January 2022, will be a new compliance deadline for many entities in the funds sector.
As part of our Soundbite Series, the Asset Management & Investment Funds team and the Financial Regulatory Investigations team discuss some key points of the proposed outsourcing guidance for investment funds and investment firms.
Description: This audio update refers to outsourcing guidance for investment funds and investment firms.
For more information on this topic please contact Ann Shiels or Sinéad Prunty, Knowledge Lawyers, or any member of our Asset Management & Investment Funds team or Financial Regulatory Investigations team.
Date published: 27 May 2021