New Implementation Date for Investor Money Regulations
The Central Bank of Ireland has delayed the start date for the Investor Money Regulations (“IMR”) from 1 April to 1 July 2016. This follows submissions made by Irish Funds regarding the various legal and operational challenges involved in implementing the IMR by 1 April 2016.
According to the Central Bank, by 1 July 2016,
Fund Service Providers must fully comply with the IMR and must be able to
provide the Central Bank with a detailed account of the compliance arrangements
they have put in place in this regard.
This document has been prepared by McCann FitzGerald LLP 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.
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