Lack of regulation at fund management companies is ‘unacceptable’

Central Bank review raises serious concerns about the failure of many FMCs to implement rules for governance

Daniel Murray

Political Correspondent @danieltmurray
20th October, 2020
Lack of regulation at fund management companies is ‘unacceptable’
An 18-month review by the Central Bank of the Framework for Governance, Management and Oversight in Fund Management Companies found that a significant number of firms had not implemented the regulations. Picture: Rollingnews.ie

A large portion of fund management companies (FMCs) in Ireland have not implemented new regulatory requirements around governance, a situation the Central Bank has said is “unacceptable” and raises “serious concern”.

An 18-month review by the Central Bank of the Framework for Governance, Management and Oversight in FMCs found that a significant number of companies had not implemented the regulations.

The review also found that the vast majority of FMCs did...

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