ARTICLE
2 December 2014

ISE Rule Change For Actively Managed ETFs

M
Matheson

Contributor

Established in 1825 in Dublin, Ireland and with offices in Cork, London, New York, Palo Alto and San Francisco, more than 700 people work across Matheson’s six offices, including 96 partners and tax principals and over 470 legal and tax professionals. Matheson services the legal needs of internationally focused companies and financial institutions doing business in and from Ireland. Our clients include over half of the world’s 50 largest banks, 6 of the world’s 10 largest asset managers, 7 of the top 10 global technology brands and we have advised the majority of the Fortune 100.
The Irish Stock Exchange has amended its listing rules to remove the requirement for actively managed Exchange Traded Funds to provide daily updates on their portfolio holdings.
Ireland Finance and Banking

With effect from 18 November 2014, the Irish Stock Exchange ("ISE") has amended its listing rules to remove the requirement for actively managed Exchange Traded Funds ("ETFs") to provide daily updates on their portfolio holdings.

Ireland is considered a domicile of choice for most of the world's leading ETF promoters with the number and range of ETFs in Ireland expanding considerably over recent years.  This change now brings ISE listing rules in line with current Irish and European regulatory requirements and the listing requirements of other European jurisdictions.

Matheson made a significant contribution to this rule change, providing insight on market practice and feedback from our clients, through various discussions and written submissions to the ISE.  We welcome this amendment and believe the change will assist Ireland in significantly enhancing its attractiveness as a jurisdiction of choice for managers of actively managed ETFs.

The content of this article is intended to provide a general guide to the subject matter. Specialist advice should be sought about your specific circumstances.

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