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ARTICLE · 21 DECEMBER 2022

Continued Regulatory Focus On Governance And Substance

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The Central Bank of Ireland ("Central Bank") has continued to focus on compliance by fund management companies ("FMCs") with its FMC framework, which includes requirements and guidance...

European UnionFinance and Banking
Matheson Asset Management And Investment Funds Group
Matheson Asset Management And Investment Funds Group
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The Central Bank of Ireland ("Central Bank") has continued to focus on compliance by fund management companies ("FMCs") with its FMC framework, which includes requirements and guidance regarding the sound organisation and governance, effective management and appropriate oversight of FMCs. The Central Bank has now issued a Dear Chair letterOpens in new window setting out its findings from an industry survey conducted earlier this year.

The European Securities and Markets Authority ("ESMA) has also published its reportOpens in new window following a peer review into national competent authorities' ("NCAs") handling of relocation to the EU in the context of the UK's withdrawal from the EU, which sets out recommendations for improving the authorisation process going forward with a focus on governance and substance.

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