UCITS Q&A

The Central Bank of Ireland (CBI) published the 38th Edition of the UCITS Q&A.
This edition of the Q&A includes amendments to three Q&As (ID 1107, 1108, 1109) and introduces two new Q&As (ID 1110 and 1111) regarding the PRIIPs filing requirements and the filing requirements for PRIIPs KIDs of UCITS marketed to different types of investors, which read as follows – as quoted:
##### Amendments to Q&As (ID 1107, 1108, 1109):
Q. (ID 1107) – I am the Responsible Person of a UCITS that is seeking authorisation or approval of a new umbrella or sub-fund from 1 January 2023 that is required to produce a PRIIPs KID. Am I required to file the PRIIPs KID with the Central Bank on authorisation / approval of the UCITS?
– Yes. Where a UCITS is required to produce a PRIIPs KID and is applying for authorisation of a new UCITS umbrella or sub-fund from 1 January 2023, the Responsible Person should submit the PRIIPs KID to the Central Bank. The PRIIPs KID must be accompanied by a written declaration from the Responsible Person or legal adviser to the UCITS setting out that (i) the KID complies with the PRIIPs Regulation and (ii) the information in the KID does not conflict with the content of the prospectus.
ID 1108
[Deleted – no longer relevant]
Q. (ID 1109) – I am the Responsible Person of a UCITS authorised prior to 1 January 2023 that must now produce a PRIIPs KID. Am I required to file the PRIIPs KID with the Central Bank on 1 January 2023?
– No. A UCITS authorised prior to 1 January 2023 that has not submitted a PRIIPs KID as part of its authorisation is not required to submit a PRIIPs KID to the Central Bank at this time. The Central Bank intends to issue further guidance on the PRIIPs KID filing requirements for these UCITS in due course.
—
##### New Q&As (ID 1110 and 1111):
Q. (ID 1110) – I am the Responsible Person of an authorised UCITS that markets separate share classes to only professional investors within a fund or sub-fund. Am I required to file a PRIIPs KID with the Central Bank?
– If a UCITS markets share classes within a fund or sub-fund to only professional investors, the UCITS may submit a UCITS KIID to the Central Bank for those share classes.
Q. (ID 1111) – I am the Responsible Person of a foreign domiciled UCITS registered to market in Ireland that intends to market to retail investors in Ireland. Am I required to file a PRIIPs KID with the Central Bank?
– Yes. The PRIIPs KID should be submitted as part of the passporting notification to the UCITS’ home regulator for onward submission to the Central Bank.