The Central Bank of Ireland ("Central
Bank") has announced that investment funds can
establish both listed and unlisted shares classes within a single
fund structure, subject to disclosure requirements, and that it
will permit different dealing times for hedged and unhedged share
classes within the same exchange traded fund
("ETF").
This welcome development arises from the Central Bank's
review of the regulation of ETFs, which has to date involved its
May 2017 discussion paper on ETFs ("Discussion
Paper") and hosting an ETFs conference attended by a
number of international regulators in Dublin last November. Mindful
of Ireland's status as the largest European centre for ETFs and
the second largest ETF domicile globally, the Central Bank launched
the initiative in order to lead an international exchange of views
on the regulation of ETFs.
