Ireland: CP86 Concludes As CBI Resets Governance Framework For Irish Fund Boards

Having commenced in September 2014, the Central Bank of Ireland (the "CBI") has now finalised its CP861 project.

The objective of CP86 was to introduce initiatives "designed to underpin the achievement of substantive control by fund management companies, acting on behalf of investment funds, over the activities of their delegates."2

The new measures apply to Irish authorised fund management companies (capturing UCITS management companies, AIFMs, self-managed UCITS and internally managed AIFs).

This update outlines the new measures and considers the implications for existing fund management companies that will need to comply with the new rules and guidance on governance, delegate oversight and other operational matters.

Final Materials

The process concluded with the publication by the CBI in December 2016 of a:

Peter Stapleton
Stephen Carty
Ian Conlon
Emma Conaty
Pádraig Brosnan
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