Home Knowledge Asset Management & Investment Funds Update July 19

Asset Management & Investment Funds Update July 19


Each month our Asset Management & Investment Funds team write a ‘Legal & Regulatory Update’. Welcome to the July edition.

The topics covered in this months edition are listed below. For further information on any of these items, please email or phone any member of our Funds Team.

  • Central Bank outlines inspections timetable for asset management sector 
    2019/2020 themed inspections  
  • Upcoming consultation on framework for investment fund errors
  • New Central Bank UCITS Regulations 2019 published
    • Changes to the Irish UCITS regime introduced by 2019 Regulations
    • Share Classes
    • Performance Fees
    • Financial Accounts
    • Treatment of cash held as ancillary liquid asset 
    • Suspension notifications
    • Money Market Fund Regulation (MMFR)
  • Timeline is fixed for introduction of Cross-Border Fund Distribution measures 
    • Key measures
    • Transitional arrangements
  •  Market makers permitted to short sovereign debt to hedge long corporate bond positions 
  • Central Bank updates its Brexit FAQ for Firms
  • ESMA issues new Q&As for depositaries of UCITS and AIFs
  • EMIR Refit – FCs permitted to use netting in clearing threshold calculation  
    • Q&A on clearing threshold calculations
  • ESMA consults on SFTR Reporting Guidelines  
  • Publication of draft legislation to amend Investment Limited Partnership Act 1994  
  • JP Morgan fined €1.6m by the Central Bank for regulatory breaches relating to outsourcing  activities

Click here or on the image below for a our full update.

WF Funds May 19