Cayman Islands

Risk Management Services for Investment Funds – Ireland

Directive 2001/61/EU (the “Alternative Investment Fund Managers Directive” or “AIFMD”) and the Commission Delegated Regulation (EU) No 231/2013 (“AIFMD Level 2”) (collectively “the Regulations”) impose significant Risk Management organisational requirements on Alternative Investment Fund Managers (“AIFMs”) managing Alternative Investment Funds (“AIFs”) within the EU. Non-EU AIFMs that manage AIFs domiciled within the EU or market non-EU domiciled AIFs to EU investors are […]

MLRO Services for Investment Funds – Ireland

Regulatory Obligations The Criminal Justice (Money Laundering and Terrorist Financing) Act 2010 and the Criminal Justice (Terrorist Offences) Act 2005 impose requirements on regulated entities to operate controls and procedures designed to prevent money laundering and combat the financing of terrorism (“AML/TF Process”). Irish investment funds are subject to these requirements and have a regulatory […]

Company Secretarial Services

Irish Company Law requires every company to have a company secretary. KB Associates provides a dedicated corporate secretarial service to investment companies and management companies (“Companies”), both UCITS and non-UCITS. In addition to the Irish legislative requirements, the introduction of the IFIA Corporate Governance Code for Collective Investment Schemes and Management Companies requires Companies to […]

Solutions for Hedge Fund Managers

Hedge fund managers face an increasingly challenging investment, risk management, operational and regulatory environment. It is essential that scarce management resources be free to focus on the investment decision making process critical to ensuring success. Simultaneously managers must address a range of risk management, operational and regulatory issues. As the hedge fund industry develops it […]

Liquidation Services for Investment Funds & Financing Vehicles

KB Associates (“KBA”) is a boutique, independent consulting firm which assists asset managers in addressing the operational issues associated with the establishment and management of offshore investment funds. KBA offers a dedicated termination and liquidation service to asset managers seeking to cease their funds’ operations and to special purpose vehicles (“SPVs”) which are being liquidated. […]

Section 110 Companies Legislative Amendment – September 2016

Background on Section 110 Companies Section 110 of the Irish Taxes Consolidation Act, 1997 provides advantageous tax treatment for Irish SPVs that meet the “qualifying companies” requirements. Section 110 companies are widely used by non-UCITS funds. “Qualifying companies” must: Be resident in Ireland for tax purposes Acquire, hold or manage “qualifying assets” Carry out a […]

Central Bank of Ireland Third Consultation – CP86 June 2016

Background and Introduction In September 2014, the CBI1 issued a consultation paper entitled Fund Management Company Effectiveness – Delegate Oversight (‘CP86’). CP86 applies to both UCITS and AIFMD compliant funds and management companies. In November 2015, the CBI issued guidance in respect of: Delegate Oversight Organisational Effectiveness Directors’ Time Commitments In CP86 June 2016, the […]

Directors’ Compliance Statement – Companies Act 2014

Background – Companies Act 2014 The Companies Act 2014 (“the Act”) came into force in Ireland on 1 June 2015. A key provision of the Act impacting the Irish investment fund industry is: Section 225, the introduction of a requirement for certain incorporated companies to include in the annual report a directors’ compliance statement (“DCS”). […]

Update – UCITS V Remuneration – April 2016

Introduction UCITS1 V was published in August 2014 and EU member states transposed the directive into national law on 18 March 2016. Two of the main areas relate to a new depositary regime and regulations governing UCITS remuneration policies. The focus of this briefing note is on remuneration. Remuneration relates to fixed and variable pay […]