Updated Central Bank UCITS Regulations published

Central Bank requirements to provide for additional capital requirements and an internal capital adequacy assessment by UCITS Management Companies authorised to provide individual portfolio management services have been published in the amended Central Bank UCITS Regulations.

These requirements are set out in the Central Bank (Supervision and Enforcement) Act 2013 (Section 48(1)) (Undertakings for Collective Investment in Transferable Securities) (Amendment) Regulations 2023 (S.I. No. 565 of 2023).

The new requirements will not apply to UCITS Management Companies authorised to provide individual portfolio management services on or before 27 November 2023 until 27 May 2024.

The new requirements will apply on authorisation to UCITS Management Companies authorised to provide individual portfolio management services from 28 November 2023.