Asset Management Bulletin June 2017

Insights

Asset Management Bulletin

June 2017

The Companies (Accounting) Act 2017

Impact on Irish investment funds

The Companies (Accounting) Act 2017 (the “Act”) came into force on the 9th of June 2017 with most of the provisions becoming effective from that date. It makes amendments to the Companies Act 2014 to bring it into line with new EU accounting rules. The Act also makes a number of other amendments to the Companies Act 2014.

AIF investment companies and UCITS PLCs will now be required to file financial statements, statutory auditors' report and directors’ reports with the Company Registration Office (the “CRO”) not later than 11 months after the end of the company’s financial year which commenced on or after the 1st of January 2017.

New Casey Quirk by Deloitte paper: Skill through scale? The role of M&A in a consolidating industry

Investment Management 2017 M&A Outlook

In this report, Casey Quirk by Deloitte review 2016 investment management M&A activity; share our expectations for 2017; and review selective trends and issues that have the potential to influence sector M&A in the coming year.
 

Fund Administration Outsourcing and the Emerging Alternatives

Outsourcing remains a key priority for The Central Bank of Ireland (“CBI”). This can been seen from recent CBI speeches and publications.

Most note-worthy of these is the recently issued “Dear CEO” letter to all Irish regulated Fund Administrators detailing observations and recommendations for Fund Administrators who outsource fund administration activities. This Deloitte paper outlines the key points from this letter and highlights the alternatives to Outsourcing which should be considered by all Fund Administrators.

The future of asset servicing

Shaped by three disruptive technologies

A huge wave of technology disruption is heading toward the asset servicing industry. In the next five years, Robotic Process Automation (RPA), blockchain and cognitive systems will drive dramatic change and have a profound, lasting impact on service providers’ operations.

These disruptive technologies collectively offer enormous potential for asset service providers to improve efficiency, reduce risk, and enhance the quality of service to clients.

In this report from Deloitte Global, we describe where we believe this impact will be felt most, and outline actions that asset service providers can take to ensure they can ride the technology disruption wave without being consumed under it.

Finalised PRIIPs RTS and imminent guidance pave the way for firms’ PRIIPs programmes

Are you ready for 1 January 2018?

Many firms have swiftly resumed their PRIIPs programmes following the entry of the final Regulatory Technical Standards (RTS) on the Packaged Retail and Insurance-based Investment Products Regulation (PRIIPs) in the Official Journal of the European Union, on 12 April 2017. The Regulation requires the disclosure of Key Information Documents (KIDs) when PRIIP products (such as funds, insurance investment products, structured products and structured deposits) are sold to retail investors.

Performance Magazine - Issue 23

In summary, in this edition of Performance Magazine, we address a wide range of issues that industry executives have to grapple with, ranging from the development of investment capability, managing a changing regulatory landscape, innovation in technology, through to the growing sophistication of the South East Asian industry.

This is a broad ranging edition, befitting a global industry. We hope you find this interesting.

CRS and FATCA filing guidelines

Latest updates and guidelines

There have been a number of changes concerning the filing guidelines and dates of FATCA and CRS. It is important to note that the filing date for FATCA remains unchanged and will remain at the 30th of June. CRS alone has an extended filing date of the 18th of August 2017.

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