Ireland: Fund Management/ REITs

This September 2026 edition examines critical regulatory developments affecting asset management and investment funds, including proposed extensions to EMIR initial margin exemptions...

The European Commission's proposed overhaul of the SFDR regime is entering crucial trialogue negotiations, with the Irish Presidency aiming to reach agreement by year-end. While the Council and Parliament have aligned on key issues like professional investor opt-outs, significant divergences remain on exclusion criteria for Transition funds, PAI reporting requirements, and engagement strategy disclosures that will shape the future of sustainable finance regulation.

Ireland offers a sophisticated regulatory framework for Alternative Investment Funds, with structures ranging from ICAVs and Investment Limited Partnerships to Unit Trusts and Common Contractual Funds. The jurisdiction provides flexible options for both retail and institutional investors, with distinct regulatory pathways for RIAIFs, QIAIFs, and ELTIFs, each designed to accommodate different investment strategies and liquidity profiles while maintaining robust investor protections.

Exchange-traded funds (“ETFs”) have transformed the investment landscape since their European debut in the early 2000s, offering diversification and transparency to investors across the spectrum.

The Central Bank of Ireland has completed a comprehensive review of delegation practices across the Irish funds sector, examining governance frameworks, oversight arrangements, and control mechanisms employed by fund management companies. While the review found generally positive compliance with regulatory requirements and supervisory expectations, it identified specific areas requiring enhancement, including board independence, resource allocation, and data management capabilities. The Central Bank has set

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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

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.

Ireland's upcoming EU Council Presidency from July to December 2026 will prioritize financial services competitiveness through advancing capital markets integration, the Savings and Investments Union, and regulatory simplification. The six-month term arrives amid geopolitical uncertainty and sustained debate about Europe's international competitiveness, positioning Ireland to shape the pace of critical legislative files including the digital euro, securitisation reform, and cross-border market supervision.