Asset Management & Investment Funds Publications - ICAV
ICAV
Beneficial Ownership filings for for ICAVs and Unit Trusts
The Central Bank of Ireland confirmed that they will be responsible for establishing the Central Beneficial Ownership Register in respect of ICAVs and Unit Trusts.
Re-domiciling to Ireland as an ICAV
The Irish Collective Asset-management Vehicles Act 2015 (the Act) provides for the re-domiciliation of non-Irish corporate funds into Ireland as ICAVs.
A&L Goodbody advises on ICAV conversion
A&L Goodbody is pleased to have advised on one of the first Central Bank of Ireland approved conversions of an existing investment company, to Ireland's newest corporate investment structure, the Irish Collective Asset-management Vehicle (ICAV).
ICAV Webinar: 20 Questions and Answers - March 2015
This guide looks at some questions and answers in relation to the Irish Collective Asset Management Vehicle following an A&L Goodbody client webinar.
ICAV Webinar: Poll Questions - March 2015
This guide looks at questions surrounding ICAV v PLC, How to set up an ICAV, Converting to the ICAV, Redomiciliation following an A&L Goodbody client webinar.
From VCC to ICAV: Procedure and Practical Considerations - March 2015
The Irish Collective Asset-management Vehicles Act 2015 (the ICAV Act) was signed into law on 4 March 2015.
Why choose an ICAV
The Irish Collective Asset-management Vehicles Act 2015 (the ICAV Act) provides for a new corporate vehicle, the ICAV, which has been specifically tailored for the funds industry.
How to incorporate an ICAV
The legislation which provides for the establishment of the Irish Collective Asset-management Vehicle (the ICAV) has now been signed into law as the ICAV Act 2015 (the ICAV Act) and is expected to be commenced soon.
How to convert to an ICAV
The Irish Collective Asset-management Vehicles Act 2015 (the ICAV Act) provides for a new corporate vehicle, the ICAV, which has been specifically tailored for the funds industry. The ICAV sits alongside the other fund structures currently available in Ireland.
ICAV: an overview - March 2015
The Irish Collective Asset-management Vehicles Act 2015 (the ICAV Act) provides for a new corporate structure which is tailored to the needs of the global funds industry and has a number of advantages over existing forms of investment vehicle.
The ICAV: New opportunities - Global Fund Media Special Report 2014
Ireland took a significant step closer to paving the way for the establishment of the Irish collective asset-management vehicle (the ICAV) with the publication of the ICAV Bill on 29 July this year, the early enactment of which has been cited as a priority for the Irish Government.
OTHER
ESG in 2020: What’s relevant for UCITS Managers and AIFMs?
A look at ESG-related policy, regulatory and legislative developments at EU level and their relevance for the asset management and investment funds sector.
The Central Bank of Ireland consultation paper CP130 on the treatment, correction and redress of errors in investment funds
The CBI issued a consultation paper about the treatment, correction and redress of fund errors.
Liquidity Management
In August 2019, the Cental Bank of Ireland issued a letter reminding UCITS management companies, SMICs, AIFMs and internally managed AIFs (Fund management companies or FMCs) of the importance of ongoing and effective liquidity management. The ESMA guidelines on liquidity stress testing in UCITS and AIFs become effective on 30 September 2020. Liquidity management for investment funds is a current priority on the regulatory agenda in Ireland and the rest of Europe.
Ireland to update its Investment Limited Partnership Act
The Irish Government has published the Investment Limited Partnerships (Amendment) Bill 2019 (the 2019 Bill) which substantially overhauls the Investment Limited Partnership Act 1994. This will bring welcome changes that will help make Ireland an attractive location for the setting up of regulated limited partnerships. The Bill also includes amendments to the ICAV Act.
Senior Executive Accountability Regime
The Cental Bank of Ireland and other international regulators have been prioritising ‘individual accountability’ for several years. The proposals to introduce a ‘Senior Executive Accountability Regime’ (SEAR) in Ireland are a significant step in that development. The SEAR will interact with other CBI reforms to the current Fitness and Probity and Enforcement processes
Beneficial ownership and Irish investment funds
The Irish beneficial ownership regulations for corporate entities and trusts are relevant for Irish fund management companies and for collective investment schemes structured as companies, ICAVs and unit trusts. In this briefing we take a look at the challenges for investment funds in identifying beneficial owners, the requirements for maintaining a beneficial ownership register, the latest on central registers and practical points for filing with the Irish registrar of beneficial ownership of companies.
European Union (Anti-Money Laundering: Beneficial Ownership of Trusts) Regulations 2019
The Regulations were signed by the Minister for Finance and came into force on 29 January 2019.
New Beneficial Ownership Regulations affecting corporate entities: What you need to know.
The Regulations came into force on 22 March 2019, with the exception of Part 3 (the obligation) which will come into force on 22 June 2019.
The Beneficial Ownership Regulations 2016 are in Force
The Beneficial Ownership Regulations 2016 are now in force. Here is what you need to know.
The European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 came into force on 22 March 2019, with the exception of Part 3 (which deals with the Central Register of Beneficial Ownership and which will come into force on 22 June 2019).
The European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 came into force on 22 March 2019, with the exception of Part 3 (which deals with the Central Register of Beneficial Ownership and which will come into force on 22 June 2019).
The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018
The Criminal Justice (Money Laundering and Terrorist Financing) (Amendment) Act 2018 came into operation on 26 November 2018. This legislation forms part of the Irish implementation of the 4th Anti-Money Laundering Directive.
Money Market Reform – update to Reverse Distribution Mechanism
Regulation (EU) 2017/1131 of the European Parliament on MMFs (the MMFR) came into effect on 20 July 2017.
Benchmark Regulations
On 29 June 2016, Regulation (EU) 2016/1011 on indices used as benchmarks in financial instruments and financial contracts or to measure the performance of investment funds (the Regulations) was published in the Official Journal of the European Union (OJEU).
The Regulations are a European legislative response to the LIBOR scandal and the allegations and subsequent investigations into manipulation of the setting of LIBOR, EURIBOR and other benchmarks.
GDPR checklist for Fund Boards
The EU General Data Protection Regime (GDPR) was adopted last year, and comes into force on 25 May 2018. The reason for the lead in time is that it introduces a sweeping new data protection regime, and it will take some time for organisations to update their data protection policies, notices and procedures to comply with the new rules.
MiFID II - Product governance procedures
Directive 2014/65/EU on markets in financial instruments (MiFID II Directive), the Commission Delegated Directive EU (MiFID II Delegated Directive) and the Markets in Financial Instruments Regulation (MiFIR) (referred to herein to as MiFID II) introduces new EU-wide rules governing investment firms, trading venues and market structures, as well as third-country firms providing investment services or activities in the EU.
Types of Legal Structure: Common Contractual Funds or CCFs
Many multi-national pension schemes seek to achieve economies of scale and efficiency of operation by pooling pension fund assets into one entity.
Stock Connect programme
On 15 July 2015, the Central Bank of Ireland (the Central Bank) updated its UCITS and AIFMD Q&As (the Q&As) to allow Irish authorised UCITs and AIFs to acquire Chinese shares via the Shanghai-Hong Kong Stock Connect (Stock Connect).
European Venture Capital Funds Regulations: June 2015 update
On 20 May 2015 the Minister for Finance published the European Union (European Venture Capital Funds) Regulations 2015 (SI 167/2015).
The Central Bank of Ireland changes rules to permit managers to set up loan originating funds
The Central Bank of Ireland has today issued its feedback statement on Consultation Paper 85 dealing with loan originating qualifying investor alternative investment funds (QIAIFs).
IN THE MEDIA
The ICAV: New opportunities - Global Fund Media Special Report 2014
Ireland took a significant step closer to paving the way for the establishment of the Irish collective asset-management vehicle (the ICAV) with the publication of the ICAV Bill on 29 July this year, the early enactment of which has been cited as a priority for the Irish Government.