On 24 March 2023, the Central Bank published its findings from the 2021 UCITS CSA on costs and fees, noting that ‘the oversight and calibration of costs and fees should be made a priority for UCITS’ and that certain such matters would ‘be an area of focus for the Central Bank in future supervisory engagements’ given the level of deficiencies identified.

Fund managers, both AIFMs and UCITS managers, are required to do a gap analysis against the findings and put in place an action plan to address any identified gaps by end Q3 2023.

See our briefing for analysis of the Central Bank’s findings, how they compare to ESMA May 2022 findings and the key items to take into account as part of the required gap analysis.