Tracker, Financial Services Regulation & Compliance - Funds
Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Investment Firms) Regulations 2017
The Central Bank published the Central Bank Investment Firms Regulations 2017 (S.I. No. 60 of 2017) which set out all of the requirements which the Central Bank imposes on certain Investment Firms. The Central Bank also published Guidance and Q&A to assist firms in complying with these requirements.
AIFMD: Updated Rulebook and Q&A
The Central Bank published the latest version of the AIF Rulebook dated March 2017 together with the twenty-fourth edition of the AIFMD Q&A, with amendments made to reflect the publication of the Central Bank (Supervision and Enforcement Act) 2013 (Section 48(1)) (Investment Firms) Regulations 2017.
UCITS: Updated Q&A
The Central Bank published the sixteenth edition of the UCITS Q&A with amendments made to reflect the publication of the Central Bank (Supervision and Enforcement Act) 2013 (Section 48(1))(Investment Firms) Regulations 2017.
Companies (Accounting) Bill 2016
The Companies (Accounting) Bill 2016 (the Accounting Bill) passed through the Report and Final Stages in Dáil Eireann. The Accounting Bill will amend the European Communities (Undertakings for Collective Investment in Transferable Securities) Regulations 2011 (UCITS Regulations) to update audit requirements and to provide that UCITS investment companies formed under the Companies Act 2014 must file financial statements and directors' reports with the Registrar of Companies. The Bill will also amend the European Union (Alternative Investment Fund Managers) Regulations 2013 (AIFMD Regulations) to update audit requirements.
Central Bank consultation on its Funding Levies for Credit Institutions, Investment Firms, Fund Services Providers and EEA insurers
The Central Bank launched a consultation, CP108 New Methodology to Calculate Funding Levies. Credit Institutions, Investment Firms, Fund Services Providers and EEA insurers. The consultation closes on 28 April 2017.
EuVECA Regulation and EuSEF Regulation
The European Parliament published a press release announcing that its Economic and Monetary Affairs Committee (ECON) adopted a draft report on the European Commission's proposed Regulation amending the European Venture Capital Funds Regulation (Regulation 345/2013) (EuVECA Regulation) and the European Social Entrepreneurship Funds Regulation (Regulation 346/2013) (EuSEF Regulation). ECON also adopted a mandate to open three-party negotiations on the final shape of the rules.
European Parliament to consider MMF Regulation at 3 to 6 April 2017 plenary session
On 16 March 2017, the European Parliament updated its procedure file on the proposed Regulation on Money Market Funds (MMF Regulation) to reflect that the EU Parliament will consider the proposed MMF Regulation during its plenary session from 3 to 6 April 2017.
Key information document for PRIIPs
On 8 March 2017, the European Commission adopted a Delegated Regulation supplementing the Regulation on key information documents (KIDs) for packaged retail and insurance-based investment products (PRIIPs) by laying down regulatory technical standards (RTS) regarding the presentation, content, review and revision of KIDs and the conditions for fulfilling the requirement to provide KIDs. The Council of the EU and the European Parliament will consider the Delegated Regulation and if neither of them object, it will enter into force twenty days after it is published in the Official Journal of the EU. It applies from 1 January 2018. The PRIIPs regime will impact QIAIFs which do not limit investor eligibility to MiFID professional clients, RIAIF and also some UCITS.
For further information please contact a member of the Financial Regulation team.
Date published: 05 Apr 2017