Navigating Ireland’s latest fund registration process with FE fundinfo

The Central Bank of Ireland (CBI) had been planning changes to how it receives fund registration documents for funds domiciled in Ireland. While a specific date wasn't confirmed, there was an expectation that these changes would be implemented around the end of September.

On 11 September 2024, the CBI transitioned to accepting UCITS and AIF notifications exclusively through their new portal, slightly earlier than some asset managers had anticipated. This shift meant that submissions previously made via email would now need to be processed through the new CBI system, requiring some adjustment from industry participants.  

At FE fundinfo, we worked closely with the CBI and found the portal relatively simple to use, but the quick shift away from email was a wrench in the workflow for many asset managers.  

What changed?  

From Email to Portal: The familiar process of attaching documents to an email has been replaced by a new system of uploading documents to the CBI’s own portal. 

New Learning Curve: Asset mannagers should plan to set up and manage their access to the portal, establishing portal IDs and passwords to familiarise themselves with a new interface. 

Time-Critical Process: Since registration is a time-sensitive matter, delays in adapting to the new system could result in delays to market for Irish-domiciled funds.  

You can navigate regulatory complexity. We can help. 

We've been watching this change and even working with the CBI to test the portal and provide feedback to ensure it meets the requirements of our clients. 

Martin Neason, Head of Global Fund Registration at FE fundinfo, said, "After decades in this space, we pride ourselves on staying ahead of regulatory changes that impact our clients. We worked closely with the CBI on its portal rollout. We're here to help asset managers adapt to this new landscape with confidence." 

We’re happy to share that, once asset managers have established their credentials to the portal, it works well. But this change represents an overarching trend in the investment industry, wherein fund managers are expected to juggle countless regulations and requirements across borders and jurisdictions. With mounting pressure to get more done with less time, many fund managers are frustrated by the obligation of adopting yet another new platform, which of course, has its limitations.  

While the portal functions well, it only offers rudimentary data management for tracking previous submissions. The burden of managing historical data rests primarily on the shoulders of asset managers. As does managing the process of adapting to this and every other regulatory change impacting the European investment market. Luckily, alternatives exist.  

5 perks of a Global Fund Registration service 

FE fundinfo’s Global Fund Registration service is a white glove professional service that arranges registration for all funds in all domiciles where they require registration. And if the process changes again, we’ll have that change covered too.  

Global Fund Registration comes equipped with the following benefits:  

1. Comprehensive Platform: FE fundinfo offers a complete solution for managing cross-border fund registrations in 73 countries. 
2. Golden Source of Truth: We maintain accurate, up-to-date registration data within our database, driving efficient document distribution and reducing risks associated with manual data transfers. 
3. Dedicated Expertise: Our experienced team handles every aspect of the registration process, allowing fund managers to focus on their core business while we manage the regulatory intricacies. 
4. Adaptability: Our finger is on the pulse of regulatory changes. As requirements evolve, our service adapts, ensuring you're always compliant without the need for constant vigilance on your part. 
5. Value-Added Insights: We leverage deep industry knowledge to offer free advice on regulatory and market expectations to our clients. 

If you’re like most asset managers, you work across products and across borders. To save yourself the headache of constant regulatory vigilance, consider using a trusted partner like FE fundinfo.

We handle the complexities behind the scenes so you can navigate the challenges of the industry with confidence.  

Don't let regulatory whims disrupt your business. Get in touch to take the next steps to maintain compliance and efficiency in the face of change.