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
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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