Central Bank publishes Ucits

The Central Bank of Ireland has published its new regulations for undertakings for collective investment in transferable securities (Ucits) to streamline the investment regime.

Once implemented, the regulations will simplify the existing regime for clients of the jurisdiction.

The new legislation from the Confederation of British Industry intends to consolidate all of the conditions imposed on Ucits, their management companies and depositaries into a single document, and is the conclusion of the Central Bank’s Consultation CP 77 which was initially published in January 2014.

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In addition, the publication of the regulations removes the requirement for promoters of Ucits funds to be approved by the CBI and brings the approach for Ucits funds in line with that for Alternative Investment Funds.