The Central Bank of Ireland (CBI) has written to asset managers with funds domiciled in the region demanding action after a review found some UCITS fund performance fee calculations had the potential to overcharge investors.
Following an inspection in UCITS performance fees, the CBI found some fund management companies were not calculating fees in accordance with its guidance and/or inadequately disclosing information on fees to investors. Irish regulator eyes more flexible stance in potential boost for active ETFs As a result of the findings, all asset managers with UCITS funds domiciled in Ireland - a key domicile for UK firms - will now be required to confirm to the regulator that they have carried out a review of their existing methodologies in order to ensure compliance. In a 4 September letter, h...
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