Guidance on Central Bank’s Amended UCITS Notices

Author:Mr Fionán Breathnach and Mark Browne
Profession:Mason Hayes & Curran
 
FREE EXCERPT

On 17 May 2013, the Irish Funds Industry Association issued a paper (the "Paper") to provide guidance on the application of the Central Bank of Ireland's revised UCITS Notices (the "Notices"). The Notices were revised in February 2013 to reflect the European Securities and Markets Authority's guidelines on exchange traded funds and other UCITS issues (the "Guidelines") (effective from 18 February 2013).

The Paper's guidance focuses on the additional disclosures now required to be made in the annual and half-yearly reports prepared by Irish authorised UCITS following the amendment of the Notices. Given the application of the Guidelines on 18 February 2013, the new disclosure requirements will apply to the annual and half-yearly reports ending on or after 18 February 2013.

The Paper highlights that in determining how the disclosures will be made in the first year of application, the auditors and manager/board...

To continue reading

REQUEST YOUR TRIAL