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Today the European Securities and Markets Authority ("ESMA") published a Call for Evidence as part of its review of the Eligible Assets Directive ("EAD").

The European Union (Shareholders' Rights) Regulations 2020 (the "Regulations") came into force in Ireland on 30 March 2020.

Undertakings in Collective Investments and Transferable Securities ("UCITS")

On 29 October 2018, the Markets in Financial Instruments Act 2018 (the "2018 Act") was enacted.

Current market conditions have given rise to significant opportunities in acquiring distressed debt internationally. Much of this debt has been lent for property acquisitions from Irish and other financial institutions.

In this quarter's edition of the legal and regulatory report, we highlight a number of key outputs as follows...

Directive (EU) 2024/927 ("UCITS VI") amending Directive 2009/65/EC ("UCITS Directive") came into force on 15 April 2024, requiring EU member states to implement it into their national laws by 16 April 2026.

On 8 October 2018, the Central Bank published revised guidance (the "Guidance") on the use of financial indices by UCITS.

As the UCITS acronym suggests, its original focus was on investment in "transferable securities" although UCITS do offer far wider investment possibilities, as explained below.

Directive 2011/ 61/EU on Alternative Investment Fund Managers (the "Directive"), which was agreed by the European Parliament on 11 November, 2010 was finally adopted on 21 July, 2011. Member States have until 22 July 2013 to implement its provisions.

On 20 July 2022, ESMA published an updated version of its UCITS Q&As with the following new Q&As...

The CLOser is the Maples Group's industry newsletter for the global CLO market.

The legislative basis for UCITS in Ireland is founded on European law implemented domestically, expanded upon by UCITS related notices (the "UCITS Notices") issued by the Central Bank of Ireland (the "Central Bank") and with further clarification provided for in a series of Central Bank guidance notes ("Guidance Notes"), each of which – European and domestic legislation and the UCITS Notices and Guidance Notes – have evolved and been amended over time.

During the quarter, the European Banking Authority (EBA) updated its Single Rulebook Questions and Answers (Q&A) publication on Directive 2015/2366/EU...

On 28 February 2025, the Central Bank published its 2025 Regulatory & Supervisory Outlook Report (the "Report").

Undertakings for Collective Investment in Transferable Securities, commonly referred to as UCITS, are collective investment schemes established and authorised under a harmonised European Union (EU) legal framework under which a UCITS established and authorised in one EU Member State can be sold cross border into other EU Member States without a requirement for an additional authorisation.

Welcome to the May edition of our Asset Management and Investment Funds Legal and Regulatory Update.

The Minister for Finance made reference in his Budget in December 2009 to the importance of the financial services industry and his intention to introduce changes to enhance the competitive position of the Irish Financial Services industry.