Domestic

CBI updates its position in relation to portfolio transparency for UCITS ETFs

The Central Bank of Ireland (CBI) updated its UCITS Q&A to provide for its new position in relation to portfolio transparency for UCITS ETFs. This is a welcome development and applies to all UCITS ETFs or UCITS with ETF share classes irrespective of whether they pursue a passive or active strategy.

CBI consultation on Fitness and Probity Regime

The CBI launched CP160 Consultation Paper on amendments to its Fitness & Probity (F&P) Regime. This consultation follows recommendations by former Chair of the European Central Bank Supervisory Board, Andrea Enria, who completed an independent review of the F&P regime in 2024.

CBI and MMF stress tests

The CBI published notice confirming its intention to apply the ESMA guidelines on stress test scenarios under the Money Market Fund (MMF) Regulation.

European

ESMA’s draft RTS and guidelines for liquidity management tools for funds

ESMA published the draft regulatory technical standards and a final report on the guidelines on liquidity management tools (LMTs) for funds. This follows an ESMA consultation.

European Commission consultation on the Savings and Investments Union

The European Commission published a consultation as part of its work on the Savings and Investments Union (SIU) to learn about obstacles to financial market integration across the EU. Topics include the distribution of funds across the EU and scaling up of investment funds

ESMA report on ESG related changes to fund names and their impact on investment flows.

ESMA published a report on environmental, social and governance (ESG) related changes to fund names and their impact on investment flows.

ESMA Q&A on registered AIFMs and crypto-asset services.

ESMA published ESMA Q&A 2397 which confirms that registered AIFMs, being exempt from authorisation under the AIFMD, may not provide crypto-asset services on the basis of a notification under Article 60(5) of the Markets in Crypto-Assets Regulation (MiCA).

ESMA’s assessment of the risks posed by the use of leverage in the fund sector

ESMA published its annual risk assessment of leveraged alternative investment funds (AIFs) and its first analysis on risks in UCITS using the absolute value-at-risk (VaR) approach.

ESMA analysis of AI in EU investment funds

ESMA published a report on the impact of artificial intelligence (AI) and its recent advancements in the EU investment management industry.

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

This publication provides an overview of certain legal and regulatory developments that may be of interest to certain entities. It does not purport to provide analysis of law or legal advice and is strictly for information purposes only.