Irish Funds Responds to IOSCO Consultation on Valuing Collective Investment Schemes

Irish Funds has submitted its response to the International Organization of Securities Commissions (IOSCO) consultation on the valuation of Collective Investment Schemes (CIS). The consultation represents a significant initiative to merge and modernise IOSCO’s 2007 and 2013 valuation principles, with the aim of establishing a clearer and more consistent global framework.

IOSCO’s consultation sets out 13 updated recommendations, including strengthened expectations in several key areas:

• Oversight arrangements

• Governance under stressed market conditions

• Conflict‑of‑interest management

• Fair value practices and backtesting

• Oversight of third‑party valuation service providers

• Addressing stale valuations

• Enhanced record‑keeping requirements

Prepared by the Irish Funds Macroprudential Working Group, the response supports IOSCO’s overall direction and provides practical insights to help ensure the principles are workable, proportionate, and adaptable across a wide range of fund structures and jurisdictions.

Our feedback emphasises the importance of:

• Flexible, principles based application, recognising differing fund structures, asset classes and jurisdictional frameworks.

• Strong governance, including valuation committees, clear documentation, and effective oversight, especially during stressed market conditions.

• Robust conflict of interest management and proportionate, risk based expectations for third party oversight.

• Proportionate transparency, disclosure and sound recordkeeping, which remain essential for investor protection and market confidence.

Irish Funds welcomes this consultation as a meaningful step toward modernising global valuation standards while supporting a resilient and trustworthy investment ecosystem.

Find out more about IOSCO’s consultation on CIS.

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