Financial Services Regulation and Compliance - Funds Oct 2020
DOMESTIC
Outcome of CP86 thematic review
The CBI published the outcome of a thematic review of the implementation of its framework for governance, management and oversight in fund management companies. Immediate action is required from some firms. Other firms should have an action plan in place by end Q1 2021.
CBI requirements for notification of liquidity material risks and actions taken
CBI issued the 35th edition of the Central Bank AIFMD Q&A, which includes a new Q&A ID 1133 in relation to liquidity stress testing in AIFs. CBI also issued the 30th edition of the Central Bank UCITS Q&A, which includes new a Q&A ID 1098 in relation to liquidity stress testing in UCITS.
Irish Funds Annual Global Funds conference
CBI Director General Derville Rowland spoke at the Irish Funds Annual Global Funds conference. ESMA chair, Steven Maijoor delivered the keynote speech at that conference.
EU & INTERNATIONAL
AIFMD consultation
The EU Commission launched a consultation relating to its review of the AIFMD. The process may also lead it to adjust the existing EU rules on UCITS. The consultation closes on 29 January 2021.
MMFR reporting
ESMA updated the validations of the technical instructions for reporting under the Money Market Funds Regulation.
For more information on these topics please contact any member of A&L Goodbody's Financial Regulation team.
Date published: 9 November 2020