The Central Bank of Ireland’s
(CBI) changes to streamline its authorisation and
post-authorisation processes for undertakings for collective
investment in transferable securities (Ucits) and retail
alternative investment funds (AIFs) have been welcomed by
industry insiders. The move brings the framework in line with
other major retail investment jurisdictions.
"There are no changes to the risk
management process regulatory requirements," said Kieran Fox,
director of business development at Irish Funds. "The change
only relates to filing the risk management process, which
should make authorisation more streamlined."
Business concern about the uncertainty resulting from Brexit
and the future trade agreement is well known, and in an effort
to exploit the uncertainty, the Central Bank of Ireland (CBI)
made long-needed changes to Ucits and retail AIF authorisation
late last month. The CBI will no longer conduct prior reviews
of depositary agreements, prospectuses and Ucits financial
indices and has published a Ucits mergers application form
intended to shorten...