At the start of the lockdown in March 2020 our Asset Management and Investment Funds Team initiated regular webinars to keep in touch with our clients, the director community and contacts. The purpose of this new podcast series is to provide you with these updates in a revised format. In this first episode, Sarah Cunniff, Partner, introduces an extract of the recording of the specific webinar on 24 April 2020 on the requirement to conduct an annual investment manager review as per the Central Bank's guidance CP86. This webinar was presented by Kevin Murphy, Partner and Co-Head of the Asset Management and Investment Funds Team.
Of course, there have been some developments since that webinar was broadcast and so at the end of the podcast Sarah is joined by Tara O'Reilly, Partner and Co-Head of the Asset Management and Investment Funds Team, who will provide some detail on what has been happening since the time the webinar was first broadcast.
One of the requirements of CP86 is that the board of an Irish fund management company receives and should be satisfied with a comprehensive annual presentation from the investment manager. These requirements were also added to by the Central Bank in a letter it sent to UCITS managers in July 2019. This requirement to have an annual presentation from the investment manager to the board of an Irish fund management company is included in our regulatory calendars for our Irish fund clients and is a requirement that needs to be evidenced by Irish fund management companies.
This article contains a general summary of developments and is not a complete or definitive statement of the law. Specific legal advice should be obtained where appropriate.