The Central Bank’s CP86 Day of Reckoning

What you need to know

Partner Declan O’Sullivan and Associate Paul Sweeney, Dechert LLP
Originally published in the November 2020 issue

For many in the funds industry, the issue on 20 October 2020 of the Central Bank of Ireland’s (the “Central Bank”) Industry Letter (the “Industry LetterA”) relating to the Central Bank’s Thematic Review of Fund Management Companies’ Governance, Management and Effectiveness (the “Thematic Review”) was a “Day of Reckoning” in relation to the Central Bank’s review of the operational model for many fund structures in Ireland.

In this article, we look at the content of the Industry Letter and its impact on fund structures and fund managers in Ireland.

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