Central Bank of Ireland publishes a "Dear Chair" letter to Fund Management Companies (FMC)

December 9, 2022

Earlier this week, the Central Bank of Ireland published a "Dear Chair" letter to Fund Management Companies (FMC). This analysis was conducted to review the compliance of the Fund Management Companies Framework in 2020. A follow-up industry survey was conducted in June 2022 to assess how the Governance, Structure, and Resources available to FMCs had evolved as a result of the measures taken from the Central Bank’s CP86 letter in 2020. 

The framework shaped expectations around the operations within a FMC. This allowed all FMCs, not only at a domestic level but also on a European and Global scale to operate effectively when it has an appropriate level of resources in place. 

The letter concluded that although there was significant progress made over the last few years, FMCs should keep in mind that there is additional work to be done in order to achieve effective governance, organisation, management and adequate monitoring in FMCs to maintain high standards of market integrity and systemic resilience as protection of the investor is a priority.

Fund Management Compliance with ViClarity

Experiencing the change in regulation with many of our Fund Management Companies, ViClarity has aided organisations to mitigate risk for compliance issues. The automation and reporting capabilities enabled monitoring financial compliance obligations simple. Learn more about our GRC software solution and how it can make regulatory compliance easier for you and your organisation.

Discover More


Recent/Related Articles

RegTech 2023 Event

August 10, 2023

ViClarity presents RegTech 2023 on October 5th, a conference that will bring you the latest in the Financial Services Regulatory and Tech climate.

The CQC Announce Key Dates For The Rollout Of Their Single Assessment Framework

August 01, 2023

The Care Quality Commission (CQC) have finally announced that the new single assessment framework will be rolled out in November. Any assessments from November onwards for providers in the South will be carried out using the new assessment framework.