Asset Management and Investment Funds Podcast: Central Bank Review of CP86 Implementation Update

At the start of the lockdown in March 2020 our Asset Management and Investment Funds Team initiated regular webinars to keep in touch with our clients, the director community and contacts. The purpose of this new podcast series is to provide you with these updates in a revised format. In this first episode, Sarah Cunniff, Partner, introduces an extract of the recording of the specific webinar on the CP86 findings which was broadcast on 23 October 2020. In October 2020, the Central Bank issued findings arising from its review of the implementation by Irish fund management companies of CP86, its Fund Management Guidance. These findings were the culmination of a three stage review process over an 18 month period by the Central Bank and it identified significant shortcomings in staffing levels, the oversight of delegates and the investment management processes for certain Irish management companies. Importantly, it required all Irish fund management companies to critically assess their operating models in the light of these findings. Of course, there have been some developments since that webinar was broadcast and so at the end of the podcast Sarah is joined by Tara O’Reilly, Partner and Co-Head of the Asset Management and Investment Funds Team, who will provide some detail on what has been happening since the time the webinar was first broadcast. Disclaimer: The contents of this podcast are to assist access to information and do not constitute legal or other advice. Specific advice should be sought in relation to specific cases. If you would like more information on this topic, please contact a member of our team or your usual Arthur Cox contact.