Central Bank Consults On Fund Management Company Effectiveness – Delegate Oversight

The Central Bank of Ireland ("Central Bank") has published a Consultation Paper ("CP86") on a number of initiatives which are 'designed to underpin the achievement of substantive control by fund management companies, acting on behalf of investment funds, over the activities of their delegates'.

'Fund management companies' include UCITS management companies, authorised Alternative Investment Fund Managers, selfmanaged UCITS investment companies and internally managed Alternative Investment Funds.

The full text of CP86 is available on the Central Bank website. Link.

Introduction

The four key areas discussed by the Central Bank in CP86 relate to:

• guidance on how fund management companies should oversee delegates;