Welcome to our Funds E-zine.
In this issue we consider in detail the Irish Funds Industry Association response to the European Commission’s UCITS VI Consultation. In its response the IFIA emphasised that the appropriate focus when considering the future evolution of UCITS should be on the protections which attach themselves to the use of investment products and strategies rather than closing off certain categories of asset class to retail investors.
We also take a look at the revised deadlines for compliance with or implementation of the US Foreign Account Tax Compliance Act, (FATCA).
Other articles cover:
- A proposal for a ban on sponsor support for money market funds
- Changes to regulatory reporting requirements for Irish funds
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.
The Irish Central Bank has published proposals which represent a major overhaul of the existing regulatory regime for Irish non-UCITS funds (AIFs) in preparation for the implementation of the Alternative Investment Fund Managers Directive (AIFMD) in July 2013. William Fry have issued an extensive briefing note on these proposals.
Finally, it is worth noting that figures published recently by the European Fund and Asset Management Association reveal that Ireland attracted 45 per cent of all new UCITS monies during the first six months of 2012.
To view the articles, please click on the relevant link below:
- IFIA Response to UCITS VI Proposals
- US Foreign Account Tax Compliance Act (FATCA) Update
- European Systemic Risk Board considering outright ban on sponsor support for money market funds
- FSA’s Retail Distribution Review
- Proposal for a Commission Regulation on Insider Dealing and Market Manipulation
- Changes to Regulatory Reporting Requirements for Irish Funds
- Central Bank issues AML/CTF letter to all Financial Institutions
- ESMA 2013 Work Programme
- AIMA calls for Depositary Passport in UCITS V Position Paper
