knowledge | 20 September 2019 |
Pre-Christmas and Year End Deadlines for Funds in 2019
The Central Bank of Ireland (“CBI”) has issued its annual letter outlining the timeframes for receipt of fund/sub-fund applications and post-authorisation amendments that have pre-Christmas or pre-year end authorisation/approval/noting deadlines.
Deadlines for receipt of complete applications to facilitate pre-Christmas and year end approvals
Other deadlines are as follows:
- QIAIF change of service provider filings with an effective date between 27 December 2019 and 1 January 2020 – 5pm on 16 December;
- Investment Manager applications – 5pm on 8 November; and
- ICAV registration/conversion/migration applications – 5pm on 2 December.
- UCITS and RIAIF authorisations/approvals/notings required on:
- 24 and/or 27 December – executed documentation must be received by 12pm on 23 December;
- 2 January – executed documentation must be received by 3pm on 30 December (2 January is the first day of 2020 that funds may be authorised/approved).
- Funds seeking to revoke their authorisation at end December 2019 must submit a complete revocation application, including payment of the funding levy, by 5pm on 6 December.
- The CBI has indicated that the only funds that are acceptable under the fast track process are either: (i) clones of funds recently approved by the CBI; or (ii) non-complex funds (i.e. plain vanilla equity funds which do not use derivatives).
This briefing is for general guidance only and should not be regarded as a substitute for professional advice. Such advice should always be taken before acting on any of the matters discussed.