On 31 March 2015, the Central Bank published new regulations and
guidance relating to both the client assets regime and the investor
monies regime. These regulations and guidance stem from the Central
Bank's consultation process last year, CP 71 (Client Assets
Regulations and Guidance) and a series of meetings between the
Irish Funds Industry Association (IFIA) and the Central Bank,
following which it was decided that new regimes should be put in
place to deal with the safeguarding of investor monies.
The Investor Money Regulations1 apply to entities
such as fund administrators, custodians and management companies of
both UCITS and AIFs. The Client Asset Regulations2 apply
to investment firms such as stockbrokers. The purpose of this
briefing is to focus on the Investor Money Regulations. The Central
Bank also issued guidance to accompany the Investor Money
Regulations which provides a useful explanation on how the Investor
Money Regulations should be applied.
