We advise on the structuring, establishment and ongoing operation of investment funds in Ireland, including UCITS and Alternative Investment Funds, for international distribution. We assist clients in liaising with and obtaining appropriate regulatory authorisations from the national regulatory authority, the Central Bank of Ireland. We also advise on issues affecting clients throughout the asset management and broader financial sector, including with regard to AML, MiFID, crypto-currencies, distance selling and internet-based products and investments. ESG is an area of particular focus for the practice and one the team has specific expertise in.
The Asset Management and Funds team liaises with other departments of the firm, including Banking and Financial Services, Corporate, Data Protection and Technology to assist clients with a comprehensive range of legal services when appropriate. The result is ensuring that client issues can be addressed in a seamless and efficient manner. We only provide Irish legal services but work though our network of international legal firms to provide comprehensive cross border legal services, as and when required, to provide cost efficient solutions in related contexts.
In addition to advising on transactional work and obtaining regulatory authorisations, we advise financial service providers and corporations on the complex regulatory issues and the potential litigation problems that can arise from breach of such regulations in a solutions driven manner.
Recent Publications
Quarterly Funds Updates:
•Q1 2024 Asset Management and Funds Update
• Q4 Asset Management and Funds Update 2023
• Q3 Asset Management and Funds Update 2023
• Read more Quarterly Updates here
Legal Updates on Key Issues
Costs and Charges:
•Central Bank Update on UCITS Costs and Fees
•Read more about Costs and Charges
ESG and SFDR:
•Consultation on Issues with SDFR Implementation
•ESMA Consults on ESG Related Fund Names
Distribution:
•ESMA publishes second overview of national rules governing fund marketing
•New MiFID II Suitability Rules
•Read more about Distribution here
GDPR:
•GDPR Decision may facilitate EU-US Data Transfers
•Read more updates about GDPR here
Liquidity:
•UCITS Liquidity and the Risk Management Framework
•Irish Fund Directors Association Q&A on UCITS Liquidity
Cryptos:
•MICA draft new standards from ESMA
•Central Bank clarifies position on Crypto-UCITS
•Read more updates about cryptos here
Litigation and Enforcement:
•Central Bank Enforcement Action
•Further Legal Support for Irish Whistle-blowers
•Read more updates about litigation and enforcement here
Central Bank updates:
•Central Bank Dear Chair Letter on Asset Valuation
•Read more Central Bank updates here
MiFID:
•Updated MiFID Guidelines Suitability and Product Governance
ELTIF:
•ELTIFII Updates from the Central Bank
•ESMA releases RTS for ELTIF II
CrowdFunding:
•Crowdfunding Regulations Questions and Answers
•Crowdfunding Regulations – New Questions and Answers
•Central Bank updates guidance for Crowdfunding Service Providers
General:
•AIFMD II Published in Official Journal
•Read more general legal updates here
Articles:
•CP86 and Appointing a Fund Management Company
•Key Considerations in Assessing a Third-Party Entity to be appointed as a Fund’s Management Company
•SMICs-Appointing-an-Affiliated-Management-Company-Key-considerations-for-Boards
•Key Considerations When Launching a Fund on a Third-Party UCITS or AIFMD Compliant Platform
Recent Presentations
•CL Presentation on Fund Marketing
•Regulatory Enforcement Issues Presentation to Irish Fund Directors Association
•Revised EU Fund Cross Border Distribution Regime
AIMA Webinars featuring Mark Browne
Financial services between the EU and Switzerland: Latest updates
https://www.aima.org/regulation/regulatory-webinars.html
AIMA Ireland members update
https://www.aima.org/regulation/regulatory-webinars.html
Investment Limited Partnership Structure
International perspectives on limited partnership structures (including the ILP)
https://www.aima.org/regulation/regulatory-webinars.html
European Fund Costs and Fees
https://www.aima.org/event/fund-costs-and-charges.html
Mark Browne is a partner in Clerkin Lynch LLP and head of the Asset Management and Funds Department. Mark has in excess of fifteen years related experience and has worked in a number of the world’s leading fund domiciles. Prior to joining Clerkin Lynch LLP to lead this Department Mark had been a partner in both a large Irish and an international law firm where he specialized in advising on related legal issues.