Before the Central Bank considers an application for authorisation of a collective investment scheme (“CIS”), it must be satisfied with the Investment Manager of the proposed CIS.
In the course of authorising a CIS, the Central Bank must be satisfied with the proposed investment manager to the CIS.
The Central Bank does not require that the investment manager be located in Ireland. In cases where the investment manager is located in Ireland, it would require an authorisation under MiFID. See information under the Approval Process.
The Central Bank does not authorise or supervise investment manager firms located outside Ireland. However, we must be satisfied that a non-Irish firm is authorised and subject to ongoing supervision in its home state.
Note: Where an Irish authorised entity is acting as investment manager to an Irish CIS, it will be supervised on the basis of its authorised activities.