Public statement relating to Enforcement Action between the Central Bank of Ireland and Mercer Global Investments Management Limited

Date16 November 2022
ENFORCEMENT ACTION
CENTRAL BANK OF IRELAND
and
MERCER GLOBAL INVESTMENTS MANAGEMENT LIMITED
Mercer Global Investments Management Limited fined €117,600andreprimanded by the
Central Bank of Ireland for breaches of UCITS investment fund regulations.
On 14 November 2022, the Central Bank of Ireland (the Central Bank) reprimanded and fined
Mercer Global Investments Management Limited (MGIM) €117,600pursuant to its
Administrative Sanctions Procedure for sixbreaches ofUCITSinvestment fundregulations(the
UCITS Regulations).
MGIMis a UCITS Management Company. A UCITS Management Company typically provides
managementservices for UCITS funds. MGIMwas responsible for issuing the prospectuses and
key investor information documents for fundsit managed. MGIM has admitted that, for varying
periodsbetween 1 July 2011 and 31 December 2018, the prospectuses and key investor
information documents (KIIDs) for five sub-funds failed to disclose that the sub-funds relied
upon an index-tracking strategy, or provide the details of the index being tracked.
The UCITS Regulationsrequirethat certain information must be included in prospectuses and
KIIDs and that this information should be kept up to date in order to enable investors to make
informed decisions about their investments. Failure to comply with these requirements may
result in investors not being fully informed of the investment strategy of aparticular fundor the
risks associated with investmentin that fund.
In addition, as part of its “gatekeeper” function in the authorisation of funds, the Central Bank
reviews prospectuses (including any supplements to those prospectuses) before authorising a

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