Investment Management news and features

January 2013

AIFMD webinar – steps to compliance

Interactive webinar focussing on the key impacts and action points for AIFMs as they prepare for compliance following the release of the Commission’s Level 2 Regulation.

Ireland FATCA Intergovernmental Agreement signed

On 21 December 2012, Ireland and the United States signed an Intergovernmental Agreement (IGA) to improve international tax compliance with respect to FATCA.

December 2012

AIFMD Alert: Commission Regulation released

The European Commission published on 19 December its long-awaited Regulation that provides the basis for implementing AIFMD across the EU by 22 July 2013. The Regulation includes some notable changes from ESMA’s technical advice. ESMA has additionally published two consultation papers.

ESMA new UCITS guidelines

ESMA has officially published its new ‘guidelines on ETFs and other UCITS’. UCITS management companies should consider a range of actions, depending on their activities, to ensure they are in compliance with ESMA’s new guidelines.

November 2012 

The Central Bank’s consultation on AIFMD

The Central Bank of Ireland has issued a consultation paper (CP 60) on the implementation of the Alternative Investment Fund Managers Directive (AIFMD) in Ireland. A new “AIF Handbook” will replace existing rules. Read our briefing paper.

IRS extends deadlines for FATCA

In a welcome move the IRS has extended the deadlines for certain FATCA requirements.

October 2012

Poland tax alert

Non-resident investors may be in an uncertain tax position regarding capital gains at the Warsaw Stock Exchange (WSE), following a recent investigation and change of approach by the Polish tax authorities. Read more. (PDF)

September 2012

Performance magazine - issue 9

The latest version of our triannual digest for asset management professionals is now available with features on OTC derivatives and meeting the new regulatory challenges, social media for asset managers, tax operational impacts of the ECJ Santander and Aberdeen cases, the results of our recent AIFMD survey and much more. (PDF)

August 2012

Moving towards UCITS VI

The European Commission published on 26 July a wide-ranging consultation paper that will form the basis of a further update to the UCITS framework. The consultation paper focuses on product rules, liquidity management, an EU depositary passport, money market funds and long-term investments.

ESMA issues UCITS guidelines and consultation on repos

ESMA has published a report detailing new guidelines on ETFs and other UCITS issues and launching a consultation on repo arrangements.

July 2012

AIFMD survey: Responding to the new reality

As investment managers prepare for the Alternative Investment Fund Managers Directive (AIFMD), Deloitte conducted a survey to determine their views on the new regime and how they plan to respond. The results provide key insights into the industry approach to AIFMD, from implications for the market landscape, product development and distribution strategies to views on detailed implementation issues. 

ESMA consultation on AIFMD remuneration guidelines

The European Securities and Markets Authority (ESMA) has published a consultation paper on the proposed guidelines on sound remuneration policies under the Alternative Investment Fund Managers Directive.

UCITS V

The European Commission published on 3 July its UCITS V proposals relating to the depositary function, remuneration and a harmonised sanctions regime for UCITS.  Read our briefing. 

May 2012

Performance magazine - issue 8

The latest version of our triannual digest for asset management professionals is now available with features on post-crisis growth in asset management, data quality in the industry, share class hedging, the IORP Directive, MiFID II, the evolving role of the fund depositary and much more. (PDF)

Deloitte Ireland builds network with Asian asset managers

Asia Pacific International Core of Excellence.

Tax alert

ECJ rules against French dividend withholding tax on non-resident funds.

Webinar: AIFMD

What does your business need to know about the Alternative Investment Fund Managers Directive (AIFMD)? On 10 May Deloitte hosted a webinar focussing on the key impacts for investment management and depositaries.

April 2012

Operational taxes in the funds industry

A clear focus

AIFMD for fund service providers

The Alternative Investment Fund Managers Directive (AIFMD) continues to generate controversy as the detailed implementing measures take shape under the stewardship of the European Commission.

Irish unit trust granted Finland treaty benefits

Finnish Tax Administration refunds WHT on Finnish source dividends.

March 2012

FATCA: The path forward

A practical guide for analysing and implementing the newly proposed FATCA regulations.

ESMA releases AIFMD key concepts discussion paper

ESMA has issued a discussion paper on the key concepts of the Alternative Investment Managers Directive and types of AIFM.

New registration requirements for Cayman master funds

The Cayman Islands’ Mutual Funds (Amendment) Law, 2011 requires master funds in open-ended master/feeder structures to register with the Cayman Islands Monetary Authority (CIMA) by 21 March 2012. On 15 February 2012, the Cayman Islands Ministry of Finance issued a further clarification that master funds with only one CIMA-registered feeder fund will also be required to register.

Draft technical standards on EMIR published

On 16 February 2012 ESMA published its draft technical standards on the European Markets Infrastructure regulation (EMIR) requiring centralised clearing and reporting within OTC derivative markets. Read our briefing on EMIR.

February 2012

Fund administration in Ireland survey 2012

Findings reveal that the investment funds industry in Ireland continues to win new business and post strong revenue growth.

U.S. Treasury & IRS release proposed FATCA regulations

On February 8, 2012, the U.S. Treasury and the IRS released the proposed regulations for the Foreign Account Tax Compliance Act - REG 121647-10.  
Visit our FATCA homepage for more information.

Performance magazine – Issue 7

The latest version of our triannual digest for asset management professionals is now available with features on corporate governance, wealth management, Brazilian investment funds, the proposed Financial Transactions Tax, UCITS IV risk management and much more. (PDF)

January 2012

UCITS IV 6 months on: Can the Directive deliver on efficiency?

Now that the dust has settled, we take a look at the key UCITS IV provisions and how they have fared.

Net assets of Irish domiciled funds surpass €1 trillion mark for the first time

The net assets of Irish domiciled funds have surpassed the €1 trillion mark for the first time, according to the latest statistics from the Central Bank dated end of November 2011. 

December 2011

IFIA corporate governance code for funds and management companies

The Irish Funds Industry Association has issued a new voluntary code for funds and management companies which the Central Bank expects all funds to adopt. Read our briefing on the key aspects of the code.

Fitness and probity for funds and their service providers

The Central Bank recently issued final guidance on the new fitness & probity regime which will require new due diligence and documentation standards. Read our guide to compliance for funds and their service providers.

Regulation: what does it mean for Ireland?

Read our article by Deirdre Power and Patrick Rooney, which first appeared in the December 2011 edition of Business & Finance Magazine.