Brexit: ESMA Confirms Brexit Co-Operation Agreements

In welcome news for the Irish funds industry, ESMA has confirmed that the memoranda of understanding (“MoU”) between ESMA and EU national securities regulators on the one hand and the UK’s FCA on the other, which cover co-operation and exchange of information, will come into effect at the end of the transition period. These MoUs will allow arrangements for fund manager delegation of portfolio/investment management to the UK to continue when the UK leaves the EU.

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