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135 news articles found
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Article and Insights

European Commission Launches MiCAR Review

The European Commission has opened a targeted consultation on MiCAR closing 31 August 2026.

Shane Kelleher
Partner
Shane Kelleher
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Article and Insights

CBI Consults on MMF Liquidity

The Central Bank of Ireland proposes new guidance on enhanced liquidity levels aiming to improve MMF market resilience.

John Aherne
Partner
John Aherne
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Article and Insights

Proposed Reform of Ireland’s Limited Partnership Regime

We examine key policy proposals from the DETE's recent consultation on reforms to the Limited Partnerships Act 1907.

John Aherne
Partner
John Aherne
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Article and Insights

Updated Central Bank AIF Rulebook published

The Central Bank of Ireland published its revised AIF Rulebook on 5 May 2026 together with a feedback statement to CP162.

Vincent Coyne
Partner
Vincent Coyne
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Article and Insights

Loan originating AIFMs | AIFMD 2.0 compliance

Streamlined Central Bank authorization process for Loan originating AIFMs to comply with AIFMD 2.0 by 16 April 2026

John Aherne
Partner
John Aherne
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Article and Insights

SFDR 2.0: Radical Changes Ahead for Sustainable Investment Funds

The European Commission published its long-awaited SFDR 2.0 proposal on 20 November 2025

Vincent Coyne
Partner
Vincent Coyne
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Article and Insights

Central Bank of Ireland Eases Restrictions on QIAIFs Providing Third-Party Guarantees

The Central Bank of Ireland has clarified the restrictions on Qualifying Investor Alternative Investment Funds providing third-party guarantees.

Vincent Coyne
Partner
Vincent Coyne
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Article and Insights

Fund Finance in Ireland – Choosing the Appropriate Fund Structure

As part of a new series dealing with key insights based on our experience acting on fund finance transactions, we consider some of the fund feature...

Vincent Coyne
Partner
Vincent Coyne
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Article and Insights

ELTIF RTS – ESMA responds to the European Commission

ESMA has responded to the European Commission proposal to make a series of changes to the draft RTS published by ESMA in December last year.

John Aherne
Partner
John Aherne
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Article and Insights

Liquidity, Leverage & Interconnectedness: three-pronged macroprudential policy onslaught for the funds sector

In Q3 to date, national, EU and international policymakers have published a range of proposals to address financial stability concerns arising from...

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

AI and Investment Funds

The proliferation of generative Artificial Intelligence in recent months brings with it new risks and opportunities for the Financial Services sect...

Barry Scannell
Partner
Barry Scannell
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Article and Insights

Commission publishes 3rd SFDR Q&A

Commission opines on key SFDR concepts including sustainable investments, climate benchmark trackers and emission reduction funds.

John Aherne
Partner
John Aherne
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Article and Insights

Central Bank tells Fund Managers to Prioritise Oversight and Calibration of Costs and Fees

On 24 March 2023, the Central Bank published its findings from the 2021 UCITS CSA on costs and fees

John Aherne
Partner
John Aherne
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Article and Insights

Asset Management & Investment Funds Update – March 2023

Welcome to the March 2023 edition of our Asset Management & Investment Funds Update.

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

Individual Accountability for Fund Managers

Analysis of the impact for fund management companies of the Central Bank's proposed individual accountability framework.

John Aherne
Partner
John Aherne
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Article and Insights

Legal News – January 2022

Here is a selection of our recent publications on subjects that may affect you or your business.

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Article and Insights

Asset Management & Investment Funds Update – July 2022

Welcome to the July 2022 edition of our Asset Management & Investment Funds Update.

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

IOSCO reaffirms its 2013 ETF Principles and consults on good practices

IOSCO has published the much-anticipated follow up to its 2013 ETF Principles in the form of a consultation on supplementary good practices.

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Article and Insights

Fitness and Probity Regime – Changes to PCF Roles

On 5 April 2022, the Central Bank of Ireland made further changes to its list of Pre-Approval Controlled Functions (PCFs) under its Fitness and Pro...

Shane Kelleher
Partner
Shane Kelleher
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Article and Insights

Asset Management & Investment Funds Update – March 2022

Welcome to the March 2022 edition of our Asset Management & Investment Funds Update.

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

A Fund Manager’s Guide to 2022

In our first Asset Management & Investment Funds Update of the year, we analyse the key dates and deadlines in 2022 to assist funds' and fund manag...

Nessa Joyce
Partner
Nessa Joyce
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Announcement
John Aherne
Partner
John Aherne
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Wipe Away Green-Washing in Your Business

As part of the transition to financing a more sustainable economy, the Central Bank of Ireland has advised of its role in tackling climate change. ...

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Article and Insights

VAT Treatment of Depository Services and Global Custody Services

On 23 May 2022, the Revenue Commissioners (Revenue) published a new Tax and Duty Manual, VAT treatment of depository services and global custody se...

Ted McGrath
Tax Partner
Ted McGrath
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Article and Insights

Upgrade of Irish Investment Limited Partnership Product

A number of significant enhancements to the Irish investment limited partnership product are set out in draft legislation which was published on 20...

John Aherne
Partner
John Aherne
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Timeline is Fixed for Introduction of Cross-Border Fund Distribution Measures

Legislation designed to facilitate the cross-border distribution of funds is to be signed into law on 20 June 2019 with key measures expected to be...

James Phelan
Partner
James Phelan
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Article and Insights

Regulatory Focus on Property Funds

See our analysis of the Central Bank's key Q1 publications impacting Irish property AIFs.

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

Re-Engineered ILP Ready for Launch

Significant enhancements to the Irish Investment Limited Partnership will be introduced at the beginning of January 2021

John Aherne
Partner
John Aherne
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Article and Insights

No-Deal Brexit Checklist for Irish Investment Funds

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 in...

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Article and Insights

No-Deal Brexit Ready? A Q&A for Irish Investment Funds

The possibility of a no-deal Brexit continues, so too does the preparatory work of promoters of Irish funds and Irish management companies. We hav...

Vincent Coyne
Partner
Vincent Coyne
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Article and Insights

New Requirements for Marketing ESG Retail Funds in France Published by the AMF

On 11 March 2020, the AMF published a Position - Recommendation entitled 'Information to be provided by collective investment schemes incorporating...

James Phelan
Partner
James Phelan
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New Government Legislation Programme: Industry & Sector Breakdown Summer 2022

The Summer legislation programme has been published by the government. The programme includes 34 bills for prioritisation.

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New EU Disclosure Rules Mandate Environmental Performance Reporting for Insurers, Banks and Listed Corporates from 1 Jan 2022

Read our FAQ on the new disclosure rules for reporting the environmental performance of activities and investments, as published for consultation b...

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New Cloud Outsourcing Guidelines for Fund Managers

See our analysis of ESMA guidelines for cloud outsourcing arrangements which take effect from 31 July 2021.

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Partner
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Irish Asset Managers Warned of Compliance Failures

Our Asset Management & Investment Funds Partner, Vincent Coyne, spoke to 'Ignites Europe' about asset managers setting up Irish entities as part of...

Vincent Coyne
Partner
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IOSCO’s Leverage Framework for Investment Funds

On 13 December 2019, IOSCO published recommendations for the measurement and monitoring of leverage in investment funds.

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Investment Firms: CBI Consultation on Competent Authority Discretions in the IFD/IFR

The Investment Firms Directive and Investment Firms Regulation (IFD/IFR) will become applicable for MiFID authorised investment firms from 26 June ...

John Aherne
Partner
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Guide to the Investment Limited Partnership: Ireland’s new and Improved Option for Private Fund Sponsors

Ireland has recently modernised its Investment Limited Partnership fund structure with the aim of providing a flexible and tailored regime able to...

Ted McGrath
Tax Partner
Ted McGrath
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Government Publishes Spring Legislation Programme for Spring 2021

The legislative programme for the forthcoming spring Oireachtas session has been published by the Government Chief Whip, Jack Chambers TD.

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EU Issues ‘Gold Standard’ for Environmentally Sustainable Activities

On 21 April 2021, the EU published the first of two planned sets of performance criteria for environmentally sustainable activities under the Taxon...

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ESMA Strengthening of Delegated Model for UCITS and AIFS

Ahead of the impending public consultation on the AIFMD review, the European Securities and Markets Authority set out its stall to the European Com...

John Aherne
Partner
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ESMA Issues Guidelines On Calculation Of Performance Fees

On 3 April 2020, ESMA published its Guidelines on performance fees in UCITS and certain types of AIFs (the Guidelines). The Guidelines will apply ...

Nessa Joyce
Partner
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ESMA Beefs Up Liquidity Risk Management Rules for Funds & Other Briefings

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our September edition.

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Partner
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ESMA Consults on Green Fund Disclosures

On 15 March 2021, the ESAs launched a consultation on compliance standards for the SFDR disclosure rules for green funds introduced by the Taxonomy...

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Partner
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Cross-Border Fund Marketing Post August 2021: Six Key Impacts of New EU Fund Distribution Rules

The EU Cross-Border Distribution of Funds legislation first comes into effect for UCITS managers and AIFMs on 2 August 2021. In this briefing we an...

James Phelan
Partner
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COVID-19: Key Considerations for Regulated Financial Services Providers

COVID-19 poses profound business and operational resilience challenges for regulated financial services providers. The William Fry Financial Regula...

Shane Kelleher
Partner
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COVID-19 Update: Amendments To The International Framework For Margin Requirements For Non-Centrally Cleared Derivatives

Final deadlines for the exchange of initial margin for non-centrally cleared derivatives to be delayed by one year

Vincent Coyne
Partner
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COVID-19 Update: Shorting Bans Introduced Across Europe

The last two days has seen Spain, France, Italy and Belgium introduce temporary restrictions on net short positions on shares

Vincent Coyne
Partner
Vincent Coyne
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Commission Issues New SFDR Q&A

On 25 May 2022, a second SFDR Q&A from the Commission was published which is highly likely to impact both fund management companies' approach to co...

Nessa Joyce
Partner
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Central Bank’s Feedback Statement on the ETF Discussion Paper

On 14 September 2018, the Central Bank of Ireland (CBI) issued the eagerly awaited feedback statement on its Discussion Paper on exchange traded fu...

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Central Bank Permits Irish Funds Invest Through Bond Connect

On 21 March 2019, the Central Bank issued a positive response to the Irish Funds' submission on Bond Connect and set out the conditions for an Iris...

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Central Bank Publishes Findings from Thematic on Cybersecurity Risk Management

The Central Bank has published its findings following a thematic inspection of investment firms and fund service providers' management of cybersecu...

James Phelan
Partner
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Central Bank Publishes Outcome of CP86 Compliance Review

On 20 October 2020, the Central Bank published findings from its review of fund management companies' implementation of the rules and guidelines un...

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Partner
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Central Bank of Ireland publishes Strategic Plan 2019 – 2021

The Central Bank of Ireland (CBI) has published its Strategic Plan for the next three years.

Shane Kelleher
Partner
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Central Bank Makes an Example of Director Found in Breach of Fitness & Probity Standards

In this briefing we review the recent prohibition by the Central Bank of a director of a regulated firm for breaches of the Fitness & Probity Stand...

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Central Bank of Ireland – Report on Outsourcing

The Report sets out the CBI's main findings from its review of regulated firms' outsourcing activities and outlines the CBI's minimum supervisory e...

Shane Kelleher
Partner
Shane Kelleher
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Central Bank Data Requests Issued to Corporate Debt & Real Estate Funds

Following on from our June briefing (ESMA supports targeted review of corporate debt and property funds) the Central Bank has begun contacting UCIT...

Vincent Coyne
Partner
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Building the Case for a Macroprudential Framework for Funds

Regulators' interest in the development of a more comprehensive macroprudential framework for funds is not new, however, the current crisis would s...

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Brexit & UK Benchmarks

In this briefing we consider the impact of Brexit, whether hard or soft, on funds' use of UK benchmarks including the possible consequences for LIB...

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Brexit Continued – UK & EU Agree Memorandum of Understanding on Financial Services

The UK and EU have agreed a Memorandum of Understanding in relation to future cooperation on financial services following three months of talks sin...

Eoin Caulfield
Partner
Eoin Caulfield
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Asset Management & Investment Funds Update – Sep 21

Welcome to the September edition of our Asset Management & Investment Funds Update.

Nessa Joyce
Partner
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Asset Management & Investment Funds Update Dec 18 – Jan 19

Welcome to the our extended 'Legal & Regulatory Update' for December 18 and January 19.

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Asset Management & Investment Funds Monthly Update

Welcome to our July edition of the Asset Management & Investment Funds monthly update.

Nessa Joyce
Partner
Nessa Joyce
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Asset Management & Investment Funds Update – April 2022

Welcome to the April 2022 edition of our Asset Management & Investment Funds Update.

Nessa Joyce
Partner
Nessa Joyce
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An Insurer’s Perspective on the Sustainable Finance Disclosure Regulation

The Sustainable Finance Disclosure Regulation is now in effect. In this briefing, we examine its impact on the insurance industry.

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ESMA Lowers Reporting Threshold For Short Positions In Response to Covid-19 Pandemic

ESMA has issued a statement outlining its decision, effective immediately, to temporarily lower the reporting threshold of net short positions in E...

Vincent Coyne
Partner
Vincent Coyne
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Article and Insights

Asset Management & Investment Funds Update – June 2022

Welcome to the June 2022 edition of our Asset Management & Investment Funds Update

Nessa Joyce
Partner
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EU Sanctions: Asset Freezes and Capital Markets Access Restrictions

To date in 2022, the EU has adopted four sanctions packages in response to the developing situation in Ukraine. Each package includes one or more ...

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

Legal News – July 2022

Welcome to the July 2022 edition of Legal News. Here is a selection of our recent publications on subjects that may affect you or your business.

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Central Bank Consumer Protection Code Review

The Central Bank has commenced the first phase of a three-stage review of the Consumer Protection Code 2012 (as amended). As part of this first pha...

Shane Kelleher
Partner
Shane Kelleher
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Legal News – April 2022

Here is a selection of our recent publications on subjects that may affect you or your business. We regularly publish briefings and insights on leg...

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Article and Insights

Asset Management & Investment Funds Update – May 2022

Welcome to the May 2022 edition of our Asset Management & Investment Funds Update

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

Legal News – October 2022

Welcome to the October 2022 edition of Legal News, a selection of our recent publications on subjects that may affect you or your business.

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Partner
Vincent Coyne
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Legal News – May 2022

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Securing authorisation as a retail credit firm in Ireland

The Consumer Protection Act 2022 (the Act) was signed into law on 11 April 2022. The Act extends the scope of firms which are required to secure au...

Shane Kelleher
Partner
Shane Kelleher
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MFID Firms’ Use of Tied Agents Circumventing EU Market Access Rules

ESMA issues expectations for MiFID firms' use of tied agents in light of post-Brexit 'circumvention' of MiFID framework.

Nessa Joyce
Partner
Nessa Joyce
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Legal News – February 2022

Here is a selection of our recent publications on subjects that may affect you or your business.

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ESMA Issues Guidance for Combating Greenwashing

In a wide-ranging briefing, ESMA sets out guidance for the supervision of SFDR compliance and combating greenwashing. While the briefing is addres...

Nessa Joyce
Partner
Nessa Joyce
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Legal News – June 2022

Welcome to the June 2022 edition of Legal News. Here is a selection of our recent publications on subjects that may affect you or your business.

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Partner
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Asset Management & Investment Funds Update – Feb 22

Welcome to the February 2022 edition of our Asset Management & Investment Funds Update.

Nessa Joyce
Partner
Nessa Joyce
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EU Adopts Environmental Performance Benchmark

On 9 December 2021, the EU published final technical screening criteria for assessing activities as having a positive impact on mitigating and/or a...

Nessa Joyce
Partner
Nessa Joyce
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Asset Management & Investment Funds Update – Dec 21

Welcome to the December 2021 edition of our Asset Management & Investment Funds Update

Nessa Joyce
Partner
Nessa Joyce
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New Irish Anti-Money Laundering Rules

Recently published AML legislation mandates beneficial ownership checks and sets out CDD required to be done on investors in high-risk countries.

Nessa Joyce
Partner
Nessa Joyce
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Sustainable Finance Amendments to UCITS & AIFMD Frameworks

See our analysis of the impact of the proposed SFDR-related amendments to the UCITS and AIFMD regimes.

Nessa Joyce
Partner
Nessa Joyce
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Asset Management & Investment Funds Update – Nov 21

Welcome to the November 2021 edition of our Asset Management & Investment Funds Update.

Nessa Joyce
Partner
Nessa Joyce
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EU Sustainable Investment Taxonomy: Will you Qualify as ‘Green’?

On 29 January 2020, the agreed text of the EU's framework for classifying which activities are 'green' or 'sustainable' (the Taxonomy) was publishe...

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EU Solution To LIBOR Cessation & Non-EU FX Spot Rate Access

The EU has proposed amendments to the Benchmarks Regulation to address issues arising from the coincidence of Brexit and the cessation of LIBOR alo...

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VAT Exemption for Management of Special Investment Funds – A Change in Approach?

An analysis for Irish fund management companies of the impact of the decision in the Blackrock VAT case.

Ted McGrath
Tax Partner
Ted McGrath
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ESMA To Retain Derivative Trading Rules Post Brexit Transition

ESMA has confirmed to market that it does not believe there is a risk to compliance with the MiFIR Derivatives Trading Obligations post 31 December...

John Aherne
Partner
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ESMA Publishes Guidelines On SFTR Reporting

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Central Bank Publishes QIAIF Consultation and New Q&As

The Central Bank has published a new consultation with draft guidance for PE funds and other closed-ended QIAIFs in addition to two new Q&As for ILPs.

John Aherne
Partner
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ESMA Recommends Liquidity Action Items for Funds

Following its recent deep-dive liquidity review of corporate debt and property funds, ESMA has recommended that liquidity and valuation policies be...

James Phelan
Partner
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Central Bank issues “Dear CEO” Letters to MiFID Firms on “Unregulated Activities” and “Appropriateness”

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John Aherne
Partner
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Coping with COVID, A Prescription for Fund Managers and Fund Boards

The evolving COVID-19 crisis poses a profound set of challenges for all regulated financial service providers including UCITS managers and AIFMs (F...

Nessa Joyce
Partner
Nessa Joyce
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EU Supervisors Consult on Funds’ & Fund Managers’ ESG Disclosure Obligations

The ESAs have launched a consultation on technical standards for complying with obligations under the Disclosures Regulation which include a mandat...

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ESMA Recommends UCITS Managers & AIFMS in-scope for MiFID Requirements

ESMA has recommended that the European Commission extend the scope of ESMA's (and national regulators') power under MiFID to restrict or prohibit t...

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No-Deal 2.0 Checklist: A Q&A for Irish Investment Funds & Fund Management Companies

As the end of the UK/EU transition period draws near, fund promoters and management companies can use our Q&A checklist tool to do a health-check o...

Vincent Coyne
Partner
Vincent Coyne
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Extension of Filing Deadline for Funds Utilising the De Minimus Limit Rules

Revenue extends eight year deemed disposal reporting deadline for Irish funds

Ted McGrath
Tax Partner
Ted McGrath
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Post-Crisis Regulation Continues With Revised Recommendations To Limit Leverage Build-Up In SFTs

Funds remain in-scope of FSB framework for haircuts on non-centrally cleared SFTs.

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

Central Bank Bans Director Deemed Not of Appropriate Fitness and Probity & Other Topical Briefings

Welcome to the November 2019 edition of our monthly update from the Asset Management & Investment Funds team.

Nessa Joyce
Partner
Nessa Joyce
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Article and Insights

Asset Management & Investment Funds Update Feb 19

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our February 2019 edition.

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First Concrete Steps Taken To Implement EU Sustainable Finance Action Plan

On 9 December 2019, the first of the legislative measures in the EU's Sustainable Finance Action Plan were published.

Nessa Joyce
Partner
Nessa Joyce
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A New Regime For The Protection Of Whistleblowers

EU Whistleblowing Directive, effective 16 December 2019, introduces obligations to facilitate and support whistleblowing.

Nessa Joyce
Partner
Nessa Joyce
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The Future of Irish Funds is Greener: European Union Action Plan on Sustainable Finance & Asset Management

The EU Action Plan on Sustainable Finance: What UCITS ManCos, AIFMs and MiFID-authorised investment firms need to know.

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Beneficial Ownership of Corporate Entities – The New Rules

As previously reported, the European Union (Anti-Money Laundering: Beneficial Ownership of Corporate Entities) Regulations 2019 (the "2019 Regulati...

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Article and Insights

Asset Management & Investment Funds Update May 19

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our May edition.

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Article and Insights

Legal News – August 2019

Welcome to the August 2019 edition of Legal News. We at William Fry aim to keep you up to date on legal developments that may affect you or your bu...

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Article and Insights

Asset Management & Investment Funds Update April 19

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our April edition.

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Article and Insights

EU Taking Stock of Equivalence Approach & Other Updates

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our August edition.

James Phelan
Partner
James Phelan
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Article and Insights

Asset Management & Investment Funds Update March 19

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our March edition.

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Article and Insights

Legal News – March 2019

Please click on the title above to view our Legal News - March 2019

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Article and Insights

Legal News – November 2019

Welcome to the November 2019 edition of Legal News. We at William Fry aim to keep you up to date on legal developments that may affect you or your ...

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Article and Insights

Temper(ature)s Rise Over UK Markets’ & Other Funds Updates – June 2019

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our June edition.

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Article and Insights

Legal News – February 2019

Please click on the title above to view our Legal News - February 2019

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Article and Insights

The Revised Shareholder Rights Directive Bring Funds in Scope

New Transparency requirement for Funds invested in listed equities due to be applied by 10 June 2019.

James Phelan
Partner
James Phelan
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Article and Insights

Brexit Omnibus Bill Published

Bill to prepare Ireland for no deal withdrawal by the UK working its way through legislative process

Shane Kelleher
Partner
Shane Kelleher
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Legal News – April 2019

Welcome to the March 2019 issue of Legal News which is a round-up of some of our articles in the last month.

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Legal News – October 2019

Welcome to the October 2019 edition of Legal News. We at William Fry aim to keep you up to date on legal developments that may affect you or your b...

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Article and Insights

No-deal Brexit ready? A Q&A for Irish Investment Funds

A 'ready-reckoner' to help funds and their managers conduct a health-check of existing arrangements if a no-deal Brexit does happen.

Vincent Coyne
Partner
Vincent Coyne
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New Beneficial Ownership Rules – What are the Facts?

New rules require corporate entities to submit beneficial ownership information to a 'central register' by 22 November 2019.

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Central Register of Beneficial Ownership Goes Live

Companies have until 22 November 2019 to file beneficial ownership information with newly established register

Deirdre Mooney
Senior Associate
Deirdre Mooney
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Asset Management & Investment Funds Update July 19

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the our July edition.

Vincent Coyne
Partner
Vincent Coyne
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Asset Management & Investment Funds Update – September 18

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the September issue.

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New Central Bank Rules on UCITS Indices

Central Bank introduces a self-certification regime for UCITS indices and flags a prospect of spot checks on index due diligence maintained by UCIT...

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Article and Insights

Asset Management & Investment Funds Update – August

Each month our Asset Management & Investment Funds team write a 'Legal & Regulatory Update'. Welcome to the August issue.

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Article and Insights

ESMA Clarifies Application of the Benchmarks Regulation to Investment Funds

A further round to the Benchmarks Regulation Q&A addresses the definition of a benchmark in relation to investment funds

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UCITS Performance Fees – Service Providers Undershoot Regulatory Expectations

On 4 September 2018, the Central Bank of Ireland published its findings of a recent thematic inspection of UCITS fund management companies to revie...

Vincent Coyne
Partner
Vincent Coyne