Regulatory Update: Central Bank Markets Update - Issue 64 August 2017
The Central Bank has today published a Markets Update which includes;
- The first edition of the Prospectus Regulatory Framework Q&A which updates and replaces the Frequently Asked Questions on the Prospectus Regulation previously published by the Central Bank.
- The Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2017- SI 344 of 2017 (‘Central Bank UCITS (Amendment) Regulations 2017’) which in addition to non-material amendments and clarifications to the main UCITS Regulations includes new rules as signaled in the Central Bank's Feedback Statement to CP 86.
- Central Bank UCITS Q&A which includes new questions ID 1079 - ID 1083 relating to the Central Bank UCITS (amending) Regulations 2017 and ID 1084 relates to the governing law of management company agreements.
- Updated UCITS Financial Derivative Instruments and Efficient Portfolio Management Guidance which includes an additional provision on disclosure requirements for financial derivative instruments in periodic reports and which is located on page 32 of the Guidance.
- Consultation on the Protection of Retail Investors in relation to the Distribution of CFDs.
- Transparency (Directive 2004/109/EC) (Amendment) Regulations 2017 came into operation on 1 August 2017 which transpose Article 6 of Directive 2004/109/EC (as amended) by introducing a requirement for extractive industry issuers and logging issuers to prepare an annual report on payments made to governments.
- An update on industry preparedness for MiFID II and regulatory implications stemming from Brexit - Michael Hodson, Director of Asset Management Supervision which includes comment on the recent ESMA opinions on Investment Management, Investment Firms and Secondary Markets.