On 12 December 2024, ESMA published its consultation paper containing draft regulatory technical standards ("RTS") pursuant to Directive (EU) 2024/927 ("AIFMD II") on requirements with which loan-originating AIFs ("LOAIFs")...more
This second instalment of our AIFMD II 101 series focuses on the new EU-wide legal framework for liquidity management tools ("LMTs") under AIFMD II.
The new rules in relation to the use of LMTs will apply to alternative...more
On 19 July 2024, the European Commission (the "Commission") adopted a delegated regulation and accompanying annexes containing its regulatory technical standards ("RTS") supplementing Regulation EU 2015/760, as amended by...more
8/13/2024
/ Anti-Dilution Terms ,
Central Bank of Ireland ,
ELTIF ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Final Report ,
Illiquid Assets ,
Investors ,
Liquidity ,
Regulatory Standards ,
Retail Investors ,
Swing Pricing
On 7 May 2024, ESMA published its call for evidence ("CfE") on the review of the Commission Directive (2007/16/EC) on UCITS Eligible Assets ("EAD"). The CfE follows the formal request from the European Commission (the...more
On 29 February 2024, the Central Bank of Ireland (the "Central Bank") published a new Regulatory & Supervisory Outlook Report outlining the key trends and risks which the Central Bank has identified as moulding the financial...more
3/29/2024
/ Artificial Intelligence ,
Central Bank of Ireland ,
Climate Change ,
Conflicts of Interest ,
Cybersecurity ,
FinTech ,
Interest Rates ,
Investors ,
Liquidity ,
Price Inflation ,
Regulatory Standards ,
Risk Assessment ,
Risk Management ,
Supervisory Guidance ,
Sustainable Finance ,
Valuation
On 14 December 2023, the Central Bank of Ireland (the "Central Bank") published its industry letter on asset valuation (the "Industry Letter"), following on from ESMA's final report on its 2022 common supervisory action on...more
1/8/2024
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Asset Valuations ,
Central Bank of Ireland ,
Coronavirus/COVID-19 ,
European Securities and Markets Authority (ESMA) ,
Liquidity ,
Policies and Procedures ,
Risk Mitigation ,
Stress Tests ,
UCITS ,
Valuation
On 19 December 2023, in a very welcome development the European Securities and Markets Authority ("ESMA") published its final report setting out the draft Regulatory Technical Standards ("RTS") under the European Long-Term...more
12/20/2023
/ ELTIF ,
Endorsements ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
Final Report ,
Investment ,
Investors ,
Liquidity ,
Liquidity Management ,
Regulatory Agenda ,
Retail Investors
On 4 April 2023, in a welcome development the Central Bank of Ireland (the "Central Bank") updated its AIFMD Q&A (47th edition) to increase the investment limits for qualifying investor alternative investment funds ("QIAIFs")...more
On 2 March 2023, the Central Bank of Ireland (the “Central Bank”) published its third annual Securities Markets Risk Outlook Report (the “Report”). The Report highlights the conduct risks that the Central Bank has identified...more
3/9/2023
/ Central Bank of Ireland ,
Cryptoassets ,
Cybersecurity ,
Economic Downturn ,
Environmental Social & Governance (ESG) ,
EU ,
Financial Services Industry ,
Investment ,
Liquidity ,
Popular ,
Risk Assessment ,
Securities ,
SFDR ,
Sustainability
As outlined in our previous advisory ‘Central Bank’s property fund proposals’, the Central Bank of Ireland (the “Central Bank”) has recently been consulting on two key proposals:
a proposal to introduce leverage limits...more
1.1 ESMA UCITS Q&A updates On 20 July 2022, ESMA published an updated version of its UCITS Q&As with the following new Q&As:
Section X: Depository – new Q&As 7 and 8 on reconciliations; and -
• Section XIII: Delegation...more
10/17/2022
/ Amended Regulation ,
Central Bank of Ireland ,
Enforcement ,
EU ,
European Commission ,
European Securities and Markets Authority (ESMA) ,
FSMA ,
IOSCO ,
ISDA ,
Liquidity ,
Money Market Funds ,
UCITS