Central Bank publishes 40th Edition of the UCITS Q&A

The 40th version of the UCITS Q&A was published, offering comprehensive guidance on Central Bank UCITS Regulations in Ireland, covering establishment, management, and compliance. Key points of the Q&A document include legal notification, depositary obligations, and disclosure specifics like rebate arrangements. It defines directed brokerage and outlines UCITS management company requirements, emphasizing board documentation and evaluations. Transitional arrangements for Regulations are specified based on authorization dates. The document details PRIIPs KID submissions, liquidity stress testing, ESMA Marketing Guidelines, and regulatory-compliant use of disclaimers in marketing communications for UCITS and AIFs.
The update of the 40th Edition includes a revision QA ID 1109 to clarify that from 1 January 2024, UCITS authorised prior to 1 January 2023 that are required to provide a PRIIPs KID should submit the PRIIPs KID to the Central Bank through the Portal in accordance with the guidance on the Central Bank’s website. For more information on the filing of a PRIIPs KID, please see [the dedicated website](https://www.centralbank.ie/regulation/industry-market-sectors/funds/key-investor-information/priips-kid). Below ID 1109 in full, quote:
ID 1109*
Q. I am the Responsible Person of a UCITS authorised prior to 1 January 2023 that must now produce a PRIIPs KID. How do I submit the PRIIPs KID to the Central Bank?
A. From 1 January 2024, UCITS authorised prior to 1 January 2023 that are required to provide a PRIIPs KID should submit the PRIIPs KID to the Central Bank through the Portal in accordance with the guidance on the Central Bank’s website.*