Welcome to the May 2026 edition of our Asset Management & Investment Funds update – ‘Funds Focus’.
In this month’s edition we look at:
- Key Dates & Deadlines: Q2 2026
Stay ahead of upcoming deadlines and key dates with our legal & regulatory tracker along with possible dates and impacts for fund managers. - Irish AIFMD II legislation published
The Irish legislation implementing the provisions of AIFMD II updating the UCITS and AIF legislative frameworks has been published and came into operation on 1 May 2026. The enhanced reporting provisions for AIFs and UCITS under AIFMD II will come into effect on 16 April 2027. - AIF Rulebook: summary of key changes
Revised Irish UCITS and AIF legislation has been published and came into operation on 1 May 2026. - CBI fund management company board effectiveness through D&I lens
The CBI published a feedback report on this topic on 17 April 2026. Among examples of good practice, all fund management companies reviewed exhibited weaknesses in board effectiveness when assessed through a D&I lens. - Navigating complexity: CBI speech
A CBI speech on 6 May 2026 covered key messages relevant to fund management companies in relation to the evolution of product complexity and growing reach of sophisticated products into the retail market. - High Court sets aside CBI Prohibition Notice of a PCF for serious breaches of fair procedures
The Irish High Court refused to confirm a Prohibition Notice issued by the CBI against a senior executive in the investment funds industry, finding serious breaches of fair procedures throughout the investigation and decision-making process. - ESMA simplification of EU reporting frameworks for funds and transactions
ESMA has launched a harmonised approach to funds reporting and an interim report on streamlined, more efficient transaction reporting across European markets. - CBI paper on implicit costs and price-based LMTs
The CBI published a Good Practice note on incorporating implicit costs into the calibration of price-based liquidity management tools (P-LMTs) in April 2026. - European Commission celebrates 40 years of UCITS
The European Commission issued an article “Celebrating 40 years of UCITS – and looking ahead” in April, commenting on the strength and success of the UCITS brand and how it has been able to adapt to innovation in financial markets.
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