Banner

Insights

Funds industry faces client asset reform

Consultation Paper 71

Download the paper

Client asset reform

The changes proposed in the Central Bank of Ireland’s consultation on client assets are likely to impact the funds industry. CP 71 proposes to develop a new regime for collection accounts operated by fund service providers as early as Q1 2014. Given the possible effect on daily processes and the high level of oversight afforded to client assets generally, it is important that firms understand the requirements now so that they can analyse the impact and take appropriate action.

Unravelling the new requirements from a contractual and technical perspective will take time. Alternatively, fund service providers may seek to adopt structures to remain out of scope. This carries both regulatory risk and the risk that many of these arrangements have yet to be tested by an insolvency situation.

People

Brian Jackson

Partner - Audit

People

Sean Smith

Director - Financial services

People

Sinead Ovenden

Director - Consulting

Submit RFP

Submit via our online form

Contact us

Dublin 2 Change location

Our three Dublin offices are:

Earlsfort Terrace, Hatch Street & Hardwicke House

Dublin 2

Ireland

Phone: +353 1 417 2200

Fax: +353 1 417 2300

Email: info@deloitte.ie