Ireland: Fund Management/ REITs

This July 2026 edition of Funds Focus examines critical regulatory developments affecting asset management and investment funds, including new CBI UCITS Regulations, ESMA's risk management supervision initiative, and the EU Retail Investment Strategy updates. The briefing provides fund managers with essential compliance deadlines, regulatory changes, and supervisory actions that will shape the investment funds landscape in the coming months.

The EU Retail Investment Strategy introduces sweeping reforms to the retail investor protection framework, fundamentally changing how UCITS management companies and AIFMs assess costs...

The Central Bank of Ireland has published updated UCITS rules and guidance following consultation, introducing significant changes to liquidity management tools, performance fees, and operational requirements. These amendments align Ireland's regulatory framework with AIFMD 2.0 while addressing domestic policy developments and implementing ESMA Guidelines on performance fees for UCITS and certain retail investor AIFs.

Ireland's upcoming EU Council Presidency from July to December 2026 will prioritize financial services competitiveness through advancing capital markets integration, the Savings and Investments Union, and regulatory simplification. The six-month term arrives amid geopolitical uncertainty and sustained debate about Europe's international competitiveness, positioning Ireland to shape the pace of critical legislative files including the digital euro, securitisation reform, and cross-border market supervision.

The Central Bank of Ireland has launched a consultation proposing enhanced liquidity requirements for money market funds, including increased weekly liquid asset levels above current regulatory minimums. This joint initiative with French and Luxembourg regulators aims to strengthen MMF resilience and introduces new supervisory engagement frameworks when funds fall below proposed thresholds.

Following a collaborative consultation between the Central Bank and the Irish funds industry, the AIF Rulebook governing Irish regulated AIFs and AIFMs has been substantially modernised and simplified.

The European Commission has issued new guidance clarifying how money market funds should interpret liquidity buffer requirements under the EU's regulatory framework.

ESMA has published its final report on the 2025 common supervisory action (CSA) conducted with national competent authorities (NCAs)...

The Central Bank of Ireland has removed a longstanding prohibition preventing Irish Qualifying Investor Alternative Investment Funds from guaranteeing third-party obligations, fundamentally changing the fund finance landscape.