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ARTICLE · 24 JULY 2026

Fund Management Company Delegation: Action Required

William Fry LLP
William Fry LLP
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William Fry LLP

William Fry LLP

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The Central Bank of Ireland has completed its comprehensive review of delegation practices across the Irish funds sector, examining how fund management companies oversee delegated activities while maintaining regulatory compliance. Through detailed surveys and onsite inspections, the regulator assessed governance frameworks, risk management controls, and data capabilities, identifying both strengths and areas requiring immediate improvement by year-end 2026.

IrelandFinance and Banking
John Aherne
John Aherne
James Phelan
James Phelan
Vincent Coyne
Vincent Coyne
Ann Shiels
Ann Shiels
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The Central Bank of Ireland (CBI) published its feedback report on 23 July 2026 in respect of its review of delegation in the Irish funds sector.

This review was conducted with a representative sample of fund management companies (FMCs) and involved detailed quantitative and qualitative surveys and onsite inspections to assess delegation arrangements across the sector.

FMCs retain ultimate responsibility for all delegated activities and must maintain sufficient substance, resources and oversight to ensure that delegated functions are performed in accordance with regulatory requirements and in the best interests of investors. Firms are required to demonstrate that they exercise sound management and decision making and exercise sound and effective control over any function they delegate. This has been an area of continuing focus by the CBI in its supervisory work where it has set out its expectations through thematic reviews and communications to industry.

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