On 9 September 2019, the Central Bank of Ireland published a consultation seeking feedback on a proposed set of rules covering the ‘treatment, correction and redress of errors in investment funds’. The consultation, which is open until 9 December 2019, poses a series of questions to industry on a proposed approach to the development of a regulatory framework in this area. Currently, there is no formal Irish regulatory regime for the treatment of errors in investment funds. This consultation, therefore, represents the first step by the Central Bank in the establishment of a set of rules and requirements to govern how funds and their management companies should address fund errors.
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Contributed by: Nessa Joyce.
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