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 Asset Management and Funds Update 2025
•Q4 Asset Management and Funds Update 2024
• Read more Quarterly Updates here
Legal Updates on Key Issues
Costs and Charges:
•Update on European Fund Statistics
•New ESMA Report on Retail Fund Costs
•Read more about Costs and Charges
ESG and SFDR:
•ESMA issues Q&A on Fund ESG Names
Distribution:
•ESMA publishes second overview of national rules governing fund marketing
•New MiFID II Suitability Rules
•Read more about Distribution here
GDPR:
•Read more updates about GDPR here
Liquidity:
•UCITS Liquidity and the Risk Management Framework
•Irish Fund Directors Association Q&A on UCITS Liquidity
•Read more Liquidity updates here
Cryptos:
•ESMA issues MiCAR Supervisory Briefing
•New MiCA Guidance Re Non-Compliance
•Read more updates about cryptos here
Litigation and Enforcement:
•BHS case and Directors’ Liability
•Central Bank Enforcement Action
•Read more updates about litigation and enforcement here
Central Bank updates:
•CBI updates UCITS ETF transparency Rules
•Read more Central Bank updates here
MiFID:
•New CBI MiFID Guidance and Forms
•ESMA AI Guidance for MiFID investment firms
ELTIF:
•CBI Updates for Open-ended ELTIFs
•ESMA Proposed Changes to ELTIF
CrowdFunding:
•Crowdfunding Regulations Questions and Answers
•Crowdfunding Regulations – New Questions and Answers
•Central Bank updates guidance for Crowdfunding Service Providers
DORA:
ESMA Updates:
•New ESMA Liquidity Management Rules
General:
•Irish Funds Sector Review 2030 Issued
•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
•Ireland and Florida – the “Gateway to the Americas”
•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.