Investment Adviser with discretionary power
Where an Investment Adviser to a collective investment scheme has discretionary powers, the Central Bank treats it as an Investment Manager and the entity must be cleared by the Central Bank to act as Investment Manager to a collective investment scheme (“CIS”).
See Investment Manager Approval Process for more information.
Investment Adviser with no discretionary power
Where an Investment Adviser with no discretionary power is being appointed to a CIS, the requirements for notification of the appointment are set out under CIS applications as:
Investment Manager/Investment Advisor Appointments – Applications Form