Spring 2024 Newsletter

The EU’s Digital Operational Resilience Act (“DORA”) deadline is fast approaching and affects many of us in the Irish funds industry, including delegated third party providers. Marcos Zubrzycki (PwC) interviews PwC Ireland’s Moira Cronin and Neil Redmond to explore the key aspects of the new legislation as it impacts the funds industry.

Gayle Bowen and Shane Geraghty (K&L Gates) discuss the key characteristics of ELTIF 2.0, the new Irish ELTIF regime which provides a quick and flexible structure that gives managers speed to market, and the huge appeal to private fund managers to open up their products to a larger pool of investors.  

Jon Masters (JTC Group) discusses how as US asset managers increasingly look to market and distribute their funds into the European Union (EU), many are now turning to Management Companies (ManCos) for support.

New rules to be implemented by the US Securities and Exchange Commission on 28 May have shortened the standard settlement cycle for most broker-dealer transactions from T+2 to T+1. Brendan Toolan (MUFG Investor Services) looks ahead to some of the anticipated post-implementation challenges and considerations.

The legal and regulatory sphere for digital assets is changing at pace. As novel business services and investment offerings are being created to meet a growing investor appetite for new ways to accumulate and store value, David Naughton and Narita Woods (LK Shields) consider the shifting plates underpinning the treatment of digital assets in our existing financial services framework.

The Irish Funds FinTech Specialist Group highlights the significant opportunities offered by both GenAI and more traditional machine learning models and the wide range of use cases whereby the new technology can be leveraged to summarize complex documentation, boost employee efficiency, create initial drafts of compliance documentation and assist in the creation of new product offerings.

With interest in active ETFs growing particularly from traditional mutual fund managers, James Hodgson (Arthur Cox LLP) examines some of the considerations and challenges for entrants to the active ETF space in Ireland.

The use of Investment Limited Partnerships ("ILPs") by private asset managers has increased steadily in recent years following an overhaul of the partnership regime in Ireland in 2021. Today, it offers the key features and functionality managers and investors have come to expect from similar vehicles in jurisdictions such as the Cayman Islands and Luxembourg, but in the Irish regulatory, tax and service provider environment. Tony Ross (Matheson) examines why this combination has proven attractive.

Joanne Shaw (basis.point) shares updates from their recent event celebrating 10 years of collaboration. basis.point is the Irish funds industry charity dedicated to improving educational outcomes for disadvantaged youth.

Read about our new members, the Irish Funds Member Council, recent publications and resources, the Irish Funds TY Financial Literacy Programme, The Women in Finance Charter and the upcoming Irish Funds Annual Global Funds Conference on Thursday, 23 May 2024.