Tracker, Financial Services Regulation & Compliance - Funds

DOMESTIC

Irish UCITS Regulations
UCITS V was implemented in Ireland by virtue of SI 143 of 2016, the European Union (Undertakings for collective Investment in Transferable Securities) (Amendment) Regulations 2016.
 
EUROPEAN

European Securities and Markets Authority publish discussion paper on UCITS share classes
ESMA is developing a framework for UCITS share classes and has issued a discussion paper setting out high-level principles (supplemented by operational principles) regarding share classes.

Money Market Funds
On 12 April 2016, the Presidency of the Council of the EU published a compromise proposal for the Regulation on Money Market Funds. The final text has yet to be agreed.

Loan origination by investment funds
On 12 April 2016, ESMA published an opinion, addressed to the European Parliament, the Council of the EU and the European Commission, on the necessary elements for a common EU framework for loan origination by investment funds.

European Securities and Markets Authority Q&A on application of UCITS Directive
ESMA published an updated version of its Q&A paper on the application of the UCITS Directive. The new Q&A concerns feeder funds.

European Securities and Markets Authority Q&A on application of AIFMD
On 5 April 2016, ESMA published an updated version of its Q&A paper on the application of the Alternative Investment Fund Managers Directive. The new Q&A concerns AIFM notifications.

EU Commission focus on Fund Passporting
The EU Commission plans to launch a consultation in May 2016 to identify the main barriers to funds passporting and will then improve passporting.

For further information please contact a member of the Financial Regulation team.

Date published: 04 May 2016