Markets Update: UCITS & AIFMD Q&A, IMR and Umbrella Cash Account Updates24 March 2016
Please note the Central Bank of Ireland (CBI) have today published a Markets Update on their website, which can be found here.
- The publication of the amending IMR Statutory Instrument (SI no 87 of 2016) which formally moves the start date of IMR to 1 July 2016.
- A revised guidance on Umbrella Cash Accounts holding subscription, redemption and dividend monies, which can be found here, and which provides for these accounts to be applied to cleared fund models.
- A revised UCITS Q&A and revised AIFMD Q&A, which both provide information on the conditions where the above umbrella cash accounts may have unattributed money for up to 5 working days on an exceptional basis. They also provide that only monies payable to investors or to sub-funds should flow through these accounts.
Finally, a question has been added with information around Securities Financing Transaction Regulation disclosures.