The Central Bank of Ireland has imposed its first ever monetary penalty on an investment fund with a fine of €192,500 on GlobalReach Multi-Strategy ICAV for breach of a reporting obligation.
In a statement on 30 November, the Irish regulator said the reprimand and fine related to the European Union (European Markets Infrastructure) Regulations 2014, as amended (the EMIR Regulations), for breach of its reporting obligation under Article 9(1) of the European Markets Infrastructure Regulation (EMIR). EMIR requires details of any derivative contracts to be reported to a registered trade repository no later than the working day following the conclusion of the contract. Ex-Barclays CEO James Staley fined and banned by FCA over ties to Jeffrey Epstein The ICAV has admitted it...
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