Welcome to our Funds E-zine.

In this issue we consider some of the pertinent highlights of the Irish Finance Minister’s 5 December announcement of Budget 2013. The Minister announced the introduction of a Real Estate Investment Trust (“REITS”) product to facilitate international investment in Irish real estate.  The introduction of REITS is a positive step towards Ireland becoming a hub for financing and managing international property investments and builds on Ireland’s success in the international funds’ sector.  It was also confirmed that Ireland has concluded an inter-governmental agreement with the US on the implementation of FATCA to further enhance the ease with which US companies do business with Ireland. This will provide a significant competitive advantage to the Irish financial services sector over other jurisdictions as the risk of withholding tax and the compliance burden on Irish domiciled investment funds will be reduced. 

Other Articles cover:

• The UCITS IV compliance requirements for self-managed investment companies
• The proposed European Venture Capital Funds Regulation
• US Money Market Fund reforms

For further information on any of the topics covered in this issue of the Funds E-zine, please call or email any of the key contacts or your usual William Fry contact.

To view the articles, please click on the relevant link below:

• Budget 2013
• ESMA Guidelines on Repurchase and Reverse Repurchase Agreements
• UCITS IV Business Plans – Developments
• European Commission Consultation on Benchmarks and Market Indices
• European Venture Capital Funds Regulation
• EMIR Update
• Update on US Money Market Funds Reform
• FSB Recommendations on Shadow Banking
• Compromise Proposals on MiFID II/MIFIR
• AIMA calls for Depositary Passport
• UCITS V: Presidency Compromise Text
• EU/Swiss Co-Operation on Supervision of Alternative Investment Funds