ISLA Responds to Central Bank of Ireland consultation on UCITS rulebook (CP84)
ISLA has submitted a response to the CBI’s consultation on proposed revisions to its UCITS rulebook. The consultation concerns the CBI’s approach to implementing the derogation from the collateral diversification requirements contained in the ESMA Guidelines on ETFs and Other UCITS (ESMA/2014/294). ISLA does not support the CBI’s more restrictive proposals and argues that the requirements of the ESMA Guidelines provide sufficient protection for UCITS that engage in efficient portfolio management techniques. A copy of ISLA’s letter can be found here.
ALD Best Practices
ISLA has issued an updated ALD approval of principals best practice paper.
The update relates to the provision of information regarding evidence of authority and capacity which a principal requires in order to engage in Securities Lending transactions.
Copies can be found here