Regulatory Requirements and Guidance

The Central Bank has issued guidance on a number of topics to assist users of the UCITS Regulations, listed below.

Publication of national provisions governing marketing requirements for UCITS

Publication of regulatory fees and charges for UCITS

UCITS Inward Marketing Requirements

UCITS Key Investor Information Document

UCITS Permitted Markets

UCITS Prospectus Disclosures

UCITS Acceptable Investment in other Investment Funds

UCITS Structured Products and Complex Trading Strategies- Prospectus Disclosure

UCITS Eligible Assets

Umbrella UCITS

Directors of UCITS Management Companies and UCITS Investment Companies - Resignation

UCITS Financial Indices

UCITS and AIF Management, Administration/Transfer Agent and Investment Management Agreements

UCITS and AIF Third Party Approval and Fund Authorisation Processes

UCITS and AIFs European Central Bank Reporting Requirements for Money Market Funds

UCITS and AIF Share Classes

UCITS Financial Derivative Instruments and Efficient Portfolio Management

Performance Fees Of UCITS and certain types of Retail Investor AIFS

UCITS Depositaries

UCITS Asset Valuation

Director Time Commitments Industry Letter

Umbrella Funds - Cash Accounts Holding Subscription, Redemption and Dividend Monies

UCITS Q&A

The UCITS Q&A sets out answers to queries likely to arise in relation to UCITS. It is published in order to assist in limiting uncertainty. It is not relevant to assessing compliance with regulatory requirements. You should check the website from time to time in relation to any matter of importance to you to see if the position has altered.

On 20th December, the Central Bank issued the 36th edition of the Central Bank UCITS Q&A, which includes two new Q&A’s, ID’s 1105 and 1106.

The new Q&A, ID 1105, sets out the Central Bank’s expectations that multi-manager UCITS will comply with ESMA’s Q&A of July 2021 on performance fees in multi-manager UCITS. It confirms that existing multi-manager UCITS must bring their performance fee methodologies into compliance by 1 January 2023. 

ID 1106 addresses the circumstances of establishment of a new multi-manager UCITS utilising a performance fee and notes that those wishing to establish a new multi-manager UCITS with a performance fee must do so in compliance with ESMA’s Q&A of July 2021 on performance fees in multi-manager UCITS.

All previous versions of the Q&A are available here.