In November 2015 the Central Bank indicated that it proposed publishing an Investment Firms Rule Book (in the form of regulations) which would consolidate into one document all the conditions and requirements, which the Central Bank imposes on investment firms (i.e. firms authorised under MiFID and also firms authorised under the Investment Intermediaries Act, 1995. The Central Bank in Consultation Paper 97 has sought stake-holders’ views on certain proposed amendments to capital requirements for fund administrators to ensure that fund administrators are subject to a robust capital requirements regime broadly aligned to the CRR/CRD IV regime which applies to many MiFID investment firms. It also proposes certain changes to the requirements applicable when fund administrators outsource activities. In CP 100, issued in December 2015, the Central Bank has consulted on a proposed capital planning requirement for fund administrators. Responses on CP 97 should be submitted no later than 27 January 2016 and responses to CP 100 by 15 March 2016.

Contributed by Patricia Taylor.