Common Supervisory Action on Costs and Fees

In 2021, the Central Bank of Ireland undertook a review of the costs and fees charged to UCITS as part of the European Securities and Markets Authority’s (ESMA’s) Common Supervisory Action (‘CSA’). The purpose of the CSA was to assess UCITS Managers compliance with the relevant cost-related provisions contained in the UCITS framework.

On 24 March 2023, the Central Bank of Ireland published a letter setting out the findings from the CSA, and requiring all firms managing both UCITS and AIFs to put a plan in place to address any gaps in their arrangements.

The letter can be found here (populate once link available).