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ARTICLE · 24 APRIL 2013

Funds Quarterly And Regulatory Update: 1 January 2013 - 31 March 2013

Dillon Eustace
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In 2011 UCITS self-managed investment companies went through the exercise of updating SMIC Business Plans in order to ensure compliance by SMICs with the relevant requirements of the Directive by 1 July, 2011.

IrelandFinance and Banking
Dillon Eustace
Dillon Eustace
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FUNDS QUARTERLY LEGAL AND REGULATORY UPDATE

UCITS, Non-UCITS & Hedge Funds

(i) SMICS UCITS- Outstanding Requirements – 1 July 2013 deadline

In 2011 UCITS self-managed investment companies ("SMICs") went through the exercise of updating SMIC Business Plans in order to ensure compliance by SMICs with the relevant requirements of the Directive by 1 July, 2011. By way of reminder, aside from certain organisational requirements, only certain Chapters of the Commission Directive 2010/43/EU (the "Directive") were required to be implemented by the 1 July, 2011 deadline, as set out below:

  • Chapter II of the Directive: Article 6 (Complaints Handling) and Article 12 (Permanent Risk Management Function) only;

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