Recent Regulatory Updates for Fund Managers

There have been a number of regulatory developments with implications for funds and their managers, since the beginning of 2020.  These include the publication of Guidelines on reporting under the Securities Financing Transaction Regulation 2015/2365 (the “SFTR”) by the European Supervisory and Markets Authority (“ESMA”) as well as the following Central Bank of Ireland (“Central Bank”) publications:

  • An information note confirming that the Central Bank will be responsible for establishing a central Beneficial Ownership Register in respect of credit unions and certain funds;
  • an updated version of the UCITS Q&A;
  • an Industry Letter re Funds preparation with regard to interest rate benchmark reforms, dated 28 February 2020 (the “Industry Letter”);
  • a notice of intention regarding the introduction of new pre-approval controlled functions (the “Notice of Intention”).

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