Ireland: Finance and Banking

The Retail Investment Strategy Directive introduces sweeping new obligations for UCITS management companies and AIFMs, requiring mandatory annual assessments to prevent undue costs and comprehensive Value-for-Money evaluations comparing fund costs and performance against peer groups. Management Companies must now demonstrate that costs charged to retail investors are justified and proportionate, with mandatory reimbursement where undue costs are identified and enhanced governance requirements placing direct

The European Commission has proposed PSD3 and an accompanying Payment Services Regulation, marking the most significant reform of EU retail payments since PSD2. These reforms address rising payment fraud, uneven open banking implementation, and supervisory fragmentation by introducing mandatory re-authorisation requirements, enhanced fraud prevention measures, and directly applicable conduct rules across all Member States.

Ireland's EU Council Presidency from July to December 2026 will focus on advancing critical financial services legislation affecting the Irish funds industry. Key priorities include finalizing the Markets Integration and Supervision Package, negotiating SFDR 2.0 reforms, and reforming the EU securitisation framework, with significant implications for fund management companies and their operational frameworks.