Irish Funds Responds to EU Savings and Investments Union (SIU) Consultation
Tuesday, 10 June 2025
:format(webp)?_w=880)
Irish Funds has submitted its response to the European Commission’s targeted consultation on the integration of EU capital markets, a key initiative under the Savings and Investments Union (SIU). This consultation represents one of the most comprehensive and strategically significant exercises in recent years, addressing a wide range of topics including supervisory structures, regulatory efficiency, digital innovation, fund authorisations, marketing rules, and investor access.
The 93-page response reflects extensive collaboration across the Irish Funds Policy and Regulatory Team and member firms. We extend our thanks to the ten Irish Funds Working Groups—comprising approximately 200 members—whose expertise and engagement were instrumental in shaping a strong, balanced submission on behalf of the industry.
Our response focuses on the funds and asset management sector, where cross-border activity, proportionality, and operational complexity are critical considerations.
Key Messages:
Strongly support the European Commission’s simplification agenda and welcome the Commission’s commitment to enhancing EU competitiveness and driving burden reduction.
Welcome efforts to improve operating and regulatory environment and deliver on the promise of a hashtag#singlemarket for financial services.
It is essential that any proposed reforms are proportionate, evidence-based, and grounded in the operational realities of the investment management sector.
Do not consider it necessary to reopen key directives (AIFMD or UCITSD) for level 1 legislative change at this time. We flag several opportunities for enhancements.
Alignment of supervisory outcomes is what is key to delivering a stronger integrated market and this is not dependent on new direct supervisory mandates and governance models.
Market integration is best supported through regulatory harmonisation, supervisory convergence, and strong cross-border cooperation between NCAs.
Irish Funds welcomes the opportunity to engage further with the European Commission and regulatory bodies on the issues raised in our response.