The many potential impacts of Brexit have occupied the minds of fund promoters and managers since June 2016 when the UK voted to leave the EU. Since then, considerable efforts have been expended by fund promoters and managers to put in place Brexit contingency measures. More recently, legislative and regulatory action has been taken at both EU and national levels to mitigate the impact of a “no-deal” Brexit (i.e. the UK leaving the EU without a withdrawal agreement and becoming a “third-country” for EU law purposes). In view of these recent developments and the continued possibility of a no-deal Brexit occurring, it is timely for Irish fund management companies and promoters of Irish funds to conduct a health-check of their existing arrangements if a no-deal Brexit were to happen.
We have created a table which sets out, in summary, the principal impacts of a no-deal Brexit on Irish fund management companies and Irish funds including related mitigation measures or consequences where no mitigation measures are in place.
Click here to download.