Insights

Guidelines on performance fees in UCITS and certain types of AIFs were published by ESMA on 5th November 2020 and will become applicable from 5th January 2021.

On 20 October 2020, the Central Bank of Ireland (CBI) published the findings of its thematic review of the implementation of Consultation Paper 86 (CP86) Fund Management Companies – Guidance (Guidance)8. The objective is to set out the standards to be met by the fund management companies (FMCs) including self-managed UCITS and internally managed AIFs in respect of their governance, management, control and resourcing.

Different classes of investment firms will experience different levels of regulatory requirements and supervisory overview tailored to their regulated activities. To identify which category of Investment Firm you are, we outline the characteristics of each of the different classes of investment firms introduced by the new regime.

To help your firm with the implementation of the new prudential framework, leverage Grant Thornton’s prudential risk experts that already assist a diverse range of investment firms.

Read our latest article on CRD V Package

The asset management industry in Ireland is in good health. Despite global economic pressures, the sector continues to develop. Our asset management team has the skills and knowledge required to help you manage the challenges in the sector and develop your business.

The ICAV is a corporate vehicle specifically developed for investment funds and is regulated by the Central Bank of Ireland (the ‘Central Bank’). Like an investment company, an ICAV is a corporate entity that is governed by a board of directors and owned by its shareholders.

In order to be a ‘qualifying company’ for the purposes of section 110 TCA 1997, a company must meet certain conditions, one of which is that it must notify Revenue of its status as a qualifying company.