Corporate governance, as it applies to fund management companies, is firmly on the regulatory agenda following the completion of a consultation process put into place by the Central Bank of Ireland in September 2014.
The resulting consultation paper, Consultation on Fund Management Company Effectiveness - Delegate Oversight (CP 86), was also accompanied by a review by the Central Bank of the number of directorships held by individuals in fund management companies. Following these reviews, the CBI has been engaged in dialogue with a cross-section of fund management companies in Ireland on the issue.
The Central Bank has recently published feedback it received from the consultation process, as well as proposed guidance on the oversight of delegates, guidance on fund management companies’ organisational effectiveness, and also guidance on the time commitments required of fund management company directors.
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