Friday July 30 2021

News Source: Fund Regulation

Focus: UCITS

Type: General

Country: Ireland

The Central Bank of Ireland (CBI) has issued a publication of national provisions governing marketing requirements for UCITS. In application of Article 1 of the Commission Implementing Regulation (EU) 2021/955, the publication contains the information on the national laws, regulations and administrative provisions governing marketing requirements referred to in Article 5(1) of Regulation (EU) 2019/1156 of the European Parliament and of the Council of 20 June 2019 on facilitating cross-border distribution of collective investment undertakings.

Summary of Marketing Requirements for UCITS

  1. Notification and prior approval of marketing communications

Without prejudice to Article 93 of the UCITS Directive, the Central Bank does not require notification or prior approval of marketing communications for UCITS.

  1. Any other requirements for the marketing of UCITS that the competent authority considers appropriate

UCITS must ensure compliance with Regulation 116 of the UCITS Regulations, Regulation 54 and 97 of the Central Bank UCITS Regulations and the advertising standards set out in Schedule 6 of the Central Bank UCITS Regulations.

When a UCITS ceases to market to investors in the State, it must comply with Regulation 97 of the Central Bank UCITS Regulations.

The UCITS, in marketing its units in Ireland to investors, shall comply with the Consumer Protection Code of the Central Bank.

Click on the above link for further information.