CalQRisk Analysis – Central Bank of Ireland Thematic Review
The Central Bank of Ireland (CBI) recently published the outcome of its thematic review on the implementation of its framework for governance, management and oversight in Fund Management Companies (FMCs).
Overall, the review found that where the framework was correctly applied by firms, it ensured robust governance and oversight arrangements. However, a significant number of FMCs have not fully implemented the framework, with many only able to demonstrate limited changes since the introduction of the framework several years ago.
As a result of these findings, the CBI has requested that all FMCs critically assess themselves against the relevant requirements, as well as against the findings in the thematic review. This assessment and associated action plan must be agreed and approved by the Board by the end of Q1 2021.
Read our analysis of the key findings here.
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