Welcome to the April 2025 edition of our Asset Management & Investment Funds Update.
In this month’s edition we look at:
- Dates & Deadlines: Q2 2025
Stay ahead of upcoming deadlines and key dates with our legal & regulatory tracker.
- QIAIFs providing 3rd party guarantees: Central Bank of Ireland clarification
The Central Bank of Ireland (CBI) has published a revised version of the AIFMD Q&A, which clarifies the position of QIAIFs providing direct guarantees and security for certain third-party obligations.
- Daily investment funds return: Phase 2 timeline altered
Following industry engagement, the go-live date of the Phase 2 timeline of the daily investment funds return (DIFR) has been postponed by the CBI to 14 August 2025.
- Standards for Business Regulations
The Standards for Business Regulations were published on 25 March 2025 under the Central Bank Reform Act 2010, which aim to enhance conduct and governance standards for regulated financial providers in Ireland and will come into force on 24 March 2026.
- Delays to ESMA mandates
ESMA has issued a letter to the European Commission setting out details of prioritisation and delays to several mandates due to be delivered under its work programme. Affected workstreams include the AIFMD review, EMIR, Listing Act, MiFIR/D review, and UCITS Eligible Assets.
- Consultation Paper on Fitness and Probity Regime
The CBI has issued a Consultation Paper on proposed amendments to its Fitness and Probity regime, as well as its Guidance.
- Management companies and delegation: Central Bank of Ireland engagement
The CBI has indicated an intention to commence industry engagement focusing on management companies and their use of the delegation model in 2025.
- SEC guidance restricting corporate engagement in the US
The Securities and Exchange Commission (SEC) has issued update guidance which will restrict asset managers’ ability to engage with US investee firms, which is of particular relevance to those with exposure to US corporates.
- EU Savings and Investment Union
The European Commission has published its strategy for the Savings and Investment Union (SIU), which aims to enhance the EU financial system’s ability to channel savings into productive investments. The strategy introduces measures to increase integration and competition in the financial markets, which are especially relevant for the asset management and funds sector.
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