Wednesday, 6 May 2015
Last updated 21 hours ago
Oct 30 2012 | 9:17am ET
Ireland's Central Bank has begun six weeks of consultation on proposals to regulate non-retail investment vehicles, like hedge and private equity funds.
Ireland, where assets worth more than €1 trillion are domiciled and worth over €2 trillion are administered, plans to implement the European Union's alternative investment fund managers' directive.
In a statement issued Monday, the Central Bank said it would set out a series of proposed changes to the current regime for the regulation of Irish funds in a draft Alternative Investment Funds Handbook.
The changes include easing existing restrictions to allow retail investors to invest in “unlisted securities, derivatives and other asset classes to an extent which has not been possible for such investors up to now,” said the bank.
The bank plans to end the current promotor approval process in favor of placing greater reliance on alternative investment fund managers, reports the Irish Times. The consulations will also look at the role of fund directors.
After the consultation period, the bank will issue a response in early 2013 and publish a finalized rule book sometime soon after.
The bank’s deputy governor, Matthew Elderfield, has said that some of Ireland's existing rules actually exceed the requirements of the new directive.
Mar 20 2015 | 12:45pm ET
StreetWise Partners, a non-profit organization that works with low-income individuals to help them overcome employment barriers, raised over $275,000 at the 2015 Raising the Ante Charity Poker Tournament and Casino Event last Wednesday evening at Capitale. Here are some photos from the event. Read more…