Domestic

Irish Funds AML/CFT/FS sectoral guidelines

Irish Funds updated its anti-money laundering, countering the financing of terrorism and international financial sanctions (AML/CFT/FS) sectoral guidelines. The sectoral guidelines should be seen as supplementary to the Central Bank of Ireland’s AML/CFT guidelines for the financial sector.

European

ESMA publishes its UCITS eligible assets advice to the European Commission

The European Securities and Markets Authority (ESMA) published its advice to the European Commission on the review of Directive 2007/16/EC on the coordination of laws, regulations and administrative provisions relating to undertakings for collective investment in transferable securities (UCITS) as regards the clarification of certain definitions (the EAD). The EAD is an implementing directive providing clarification on the assets a UCITS can invest in. In the technical advice, ESMA provides a comprehensive assessment of the EAD’s implementation across Members States and makes proposals to ensure regulatory clarity and uniformity across jurisdictions. 

Amendment to EU Benchmarks Regulation

Regulation (EU) 2025/914 amending Regulation (EU) 2016/1011 as regards the scope of the rules for benchmarks, the use in the EU of benchmarks provided by an administrator located in a third country, and certain reporting requirements aims to reduce the regulatory burden on smaller EU benchmark administrators. It will apply from 1 January 2026.

The reduction in scope introduced by the amending regulation will mean that only UCITS management companies, UCITS funds and alternative investment funds that use critical or significant benchmarks (as defined), certain commodity benchmarks, EU climate transition benchmarks or EU Paris-aligned benchmarks, will be subject to the benchmark user requirements.

IOSCO report and guidance on liquidity risk management for collective investment schemes 

The International Organisation of Securities Commissions (IOSCO) published revised recommendations for liquidity risk management for collective investment schemes together with guidance for open-ended funds to ensure effective implementation of these recommendations.

ESMA discussion paper on streamlining fund data reporting

ESMA launched a discussion paper on how to integrate funds reporting, aiming to reduce the burden for market participants.

The deadline for responses to the discussion paper is 21 September 2025.

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.