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Welcome to the October 2023 edition of our Asset Management & Investment Funds Update. In this month's edition we look at...

At William Fry's ‘Sustainable Finance in Practice for Fund Managers' event yesterday, the Central Bank's Director of Securities and Markets Supervision provided specific and detailed commentary...

The purpose of this briefing note is to provide information on the review by the Central Bank of the business plans for UCITS selfmanaged investment companies ("SMICs").

The Irish Department of Finance has unveiled a comprehensive roadmap to transform how retail investors are taxed, with a new investment account at its core designed to simplify the tax framework and encourage greater participation in capital markets. The proposal includes annual contribution limits, a tax-free threshold, and a flat-rate tax structure that eliminates the controversial deemed disposal rule, while also signaling broader reforms to investment fund taxation from Budget 2028 onwards. This initiat

The Irish Minister for Finance has announced that he has approved the development of legislative proposals for a new corporate structure for the Irish funds industry (the "SICAV").

On July 1, 2010 the European Commission introduced a new programme of legislative changes with respect to the investment funds known as UCITS (Undertakings for Collective Investment in Transferable Securities).

Ireland is introducing a new tax-efficient Investment Account from July 2027, allowing residents to invest up to €12,000 annually with a €50,000 tax-free threshold. The initiative aims to encourage retail investment by eliminating complex tax rules like deemed disposal and replacing them with a simplified 1% annual tax on amounts exceeding the threshold.

The European Securities and Markets Authority (ESMA) has published its Work Programme for 2024 (the Work Programme). The Work Programme is structured around the implementation...

The requirements apply to UCITS management companies and AIFMs in relation to the marketing and distribution of UCITS and AIFs.

Following a protracted period of intense lobbying at European level, the European Parliament and the EU Council recently finalised their respective drafts of the Alternative Investment Fund Managers Directive.

On 1 July 2022, the Central Bank provided an update relating to the pre-submission process it has in place for certain Qualifying Investor Alternative Investment Funds ("QIAIFs"). Going forward this process is only required where it is proposed...

The Eurozone has not received much positive economic publicity in the international press recently.

A commencement order supporting the Companies (Miscellaneous Provisions) Act, 2009 (the "2009 Act") has now been signed into law, giving immediate full effect to a new procedure for corporate investment funds to relocate to Ireland from other jurisdictions or vice versa.

UCITS IV legislation is signed into law.

The Central Bank of Ireland (the "Central Bank") has issued Consultation Paper CP 60 (the "Consultation Paper") in relation to the Alternative Investment Fund Managers Directive (the "AIFMD") and its implementation in Ireland.

Ireland is an established centre of expertise in inter-related financial and industrial sectors active in the green energy and related areas including project finance, wind farm development, turbine manufacture, equipment leasing, insurance and securitisation.

A UCITS can invest in a diverse range of liquid investments such as transferable securities, bank deposits, money market instruments, financial derivatives and units of other funds either as a fund of funds or a feeder fund.

On 1 November 2023, the Central Bank of Ireland (Central Bank) published a consultation paper outlining the proposed domestic supervisory and reporting framework...