ESMA published on 3 April 2020, its Final Report, ‘Guidelines on performance fees in UCITS and certain types of AIFs’ (the “Guidelines”). The Guidelines are the culmination of a consultation process started by ESMA in July...more
The European Shareholders' Rights Directive II (“SRD II”) has been transposed into Irish law with the publication of the European Union (Shareholders’ Rights) Regulations 2020 (“Regulations”). The Regulations aim to promote...more
4/27/2020
/ AIFM ,
Corporate Governance ,
Disclosure Requirements ,
European Shareholders' Rights Directive II (SRD II) ,
Fund Managers ,
Institutional Investors ,
Ireland ,
Management Companies ,
MiFID ,
Publicly-Traded Companies ,
Shareholder Rights ,
Transparency ,
UCITS
In September 2019, the Central Bank of Ireland (the Central Bank) published CP130, a consultation paper on the proposed regulatory framework (the Framework) for the treatment, correction and redress of errors in investment...more
11/14/2019
/ AIFs ,
Asset Management ,
Central Bank of Ireland ,
Corrective Actions ,
Fund Management Companies ,
Fund Managers ,
IMF ,
Investment Funds ,
Investors ,
IOSCO ,
Ireland ,
Money Market Funds ,
Notice Requirements ,
Public Consultations ,
Reporting Requirements ,
UCITS
On 16 September 2019, the Central Bank of Ireland (the “Central Bank”) sent a letter to the Irish funds industry outlining the timeframes for receipt of (i) new fund applications and (ii) post-authorisation amendments that...more
9/20/2019
/ AIFM ,
Applications ,
Central Bank of Ireland ,
Filing Deadlines ,
Fund Managers ,
ICAV ,
Investment Funds ,
Investment Management ,
Ireland ,
QIAIF ,
RIAIF ,
UCITS ,
UK Brexit
ESMA published a consultation (the “Consultation”) on draft guidelines for UCITS performance fees (the “Draft Guidelines”) on the 16 July 2019. The objective of the Consultation is to obtain stakeholder feedback on the...more
8/30/2019
/ Broker-Dealer ,
Central Bank of Ireland ,
Draft Guidance ,
European Securities and Markets Authority (ESMA) ,
Investment Adviser ,
Investment Funds ,
IOSCO ,
Ireland ,
Performance Fee Rule ,
Public Consultations ,
Transparency ,
UCITS
The Central Bank of Ireland (the “Central Bank”) on 18 July 2019 published a ‘Dear Chair’ letter to the industry (the “Industry Letter”) highlighting the key supervisory issues identified in a thematic review of Irish...more
On 7 August 2019, the Central Bank of Ireland (the “Central Bank”) issued an industry letter (the “Industry Letter”) regarding the importance of ongoing, effective liquidity management and ensuring compliance with relevant...more
On 23 July 2019, the Central Bank of Ireland (the “Central Bank”) revised its guidance on UCITS Financial Indices (“Guidance”), clarifying the circumstances where an index certification is now not required....more
The Staff of the U.S. Securities and Exchange Commission (SEC) on March 8, 2017 issued a no-action letter (Staff Letter) in response to a request from Dechert LLP for assurance under Section 12(d)(1) of the Investment Company...more
4/18/2017
/ Alternative Investment Fund Managers Directive (AIFMD) ,
Broker-Dealer ,
Foreign Currency ,
Global Market ,
Hedging ,
International Tax Issues ,
Investment Company Act of 1940 ,
Investment Funds ,
Investment Management ,
No-Action Letters ,
Non-US Feeder Funds ,
Registered Investment Companies (RICs) ,
Section 12(d)(1) ,
Securities and Exchange Commission (SEC) ,
UCITS ,
Underwriting